As we’ve covered previously, there are a number of plans and proposals for dramatic policy changes relative to livestock and meat packing. This week, those proposals started to take a little more shape and could cloud the longer-term outlook. First, some storm clouds will hover over the farm bill debate for the next year. Senator Cory Booker (D-New Jersey) and Representative Ro Khanna (D-California) – both members of the agriculture committees in their respective chambers - introduced the Farm System Reform Act. That legislation would enact reforms to the Packers and Stockyards Act on livestock marketing, a provision it shares with the Administration’s efforts and other bills, but it would also:
Place an immediate mo...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
