INDUSTRY NEWS

Declining beef and pork production may offset increased broiler production and lead to a decrease in total meat production in 2022.

The USDA announced the launch of the Meat and Poultry Processing Capacity Technical Assistance Program (MPPTA) to provide technical assistance to meat and poultry grant applicants and grant-funded projects.

The U.S. will no longer receive Russian energy exports, President Joe Biden announced March 8. The ban on Russian oil, liquefied natural gas and coal is the latest in several retaliatory sanctions against Russian international commerce following the invasion of Ukraine in late February.

In the weeks following Russia’s invasion of Ukraine on Feb. 24, the prices of everything from food and gasoline to wheat, corn and other feedstuffs have reacted with extreme volatility.

Last week, Elliott Dennis discussed the relationship between corn price and feeder cattle placement weights and the likelihood that the industry will continue to place lighter weight cattle while corn prices remain high.

Bayer and Cinven have entered into a definitive agreement regarding the sale of Bayer’s Environmental Science Professional business for a purchase price of $2.6 billion (2.4 billion euros), Bayer announced on March 10.