Following a Senate hearing in late June over the state of the cattle markets and transparency concerns, two additional congressional hearings took place on July 28. The House of Representatives and Senate each met separately to discuss the state of the beef supply chain and how to increase competition and efficiency within every sector.
Using Livestock Mandatory Reporting data, NCBA determined there were no minor or major triggers tripped in the negotiated trade volume silo in the second quarter. However, the group expressed frustration with some of the packers' participation.
Cash trade was lackluster last week with little to no movement in prices, while boxed beef prices rose seasonally. On June 23, both the Cattle on Feed and Inventory reports were released and the market rallied on Monday, but lost some ground as the week progressed.
News from the Editors
After being accused of complacency by horse advocacy groups, the Bureau of Land Management (BLM) has announced protective measures to prevent adopted horses from ending up in auction yards, destined for slaughter. Read more
In a 10-10 vote on July 22, the Senate Energy and Natural Resources Committee voted to move Tracy Stone-Manning’s nomination to the Senate floor. Due to the tie along party lines, Majority Leader Sen. Chuck Schumer (D-NY) had the authority to move the nomination forward to the full Senate. Read more
Reps. Dina Titus (D-NV-01) and Nancy Mace (R-SC-01) introduced the Opportunities for Fairness in Farming Act to add accountability and transparency to reform the USDA’s checkoff programs. Read more
The Texas A&M Forest Service is accepting grant applications for the State Fire Assistance for Mitigation—Plains Prescribed Fire Grant through Aug. 15. The grant will provide $74,514 in total funding for prescribed burns. Read more
This latest report confirms that the feedlot situation continues to improve relative to the slaughter capacity constraints that plagued fed cattle markets in early 2021. Read more
In any successful business, decision-makers are always adjusting to outside influences. In the cattle business, culling decisions sometimes are made on reproductive status and feed availability. Read more
As the U.S. Senate continues searching for some means of balance to pass a massive infrastructure bill, Republicans on July 21 launched a series of floor speeches, press releases and a letter to President Joe Biden attacking Democratic spending and tax proposals, arguing they would put family farms and ranches in the crosshairs. Read more
It’s remarkable how much attention the cattle and beef business is receiving from Congress. The government isn’t going to help much and it worries me about what they might do.
With all the talk about cattle feeders losing so much money it’s surprising they are paying more for feeder cattle. We’ve had some great tests in the market on fall-delivered calves the past few weeks.