NEWS

After languishing for weeks at about $114 per hundredweight (cwt), the fed cattle market has sprung to life. Fed cattle prices hit $123-$124 in more Northern regions and closed the week at $121 in the Southern Plains.

Cody Easterday, owner of Easterday Ranches Inc., pled guilty to defrauding (Tyson) and an unnamed company (Company 1) out of more than $244 million by charging them under various agreements for the purported costs of purchasing and feeding hundreds of thousands of cattle that did not actually exist.

Beef exports have evolved significantly in recent years in a very dynamic environment of global politics and trade policies, direct and indirect impacts of animal disease outbreaks, and growing beef preferences and consumption.

The Biden administration submitted its discretionary funding request (DFR) for 2022 to Congress on April 9. The request outlines the president’s discretionary funding recommendations for several policy areas and provides “a strategy for reinvesting in the foundations of our country’s resilience and strength.”

Last year, several pieces of legislation were introduced in both the U.S. House of Representatives and Congress whose principal aim was to increase the level of negotiated cash trade.