Cattle feeders were unable to push the cash market higher, settling for mostly steady money as packers were noticeably less aggressive with much narrower profit margins.
Beef packer profit margins fell to their lowest level in nearly two years last week while cattle feeding margins exceeded triple digits for the second consecutive week.
Lawyers for America’s largest beef packing companies asked a federal judge on Friday to dismiss the class action suit filed against them by a group of ranchers last year.
Steers and heifers suitable for grazing programs sold sharply higher in the week ended Jan. 10. AMS reporters called demand good to very good at livestock auctions nationwide.
Walmart held a grand opening of its Thomasville, Georgia, beef processing facility that will supply Black Angus beef to some 500 of its retail stores in the southeast.
Cattle feeding profit margins exceeded beef packer margins last week for the first time in more than two years as cash cattle prices have increased 20% since September.
No paid time off and no health insurance is the norm for livestock employees.