NEWS

Economic growth projections for the U.S. and the world have been revised downward due to the impacts of COVID-19, with many global growth projections having contractions of nearly 3%.

The U.S. Department of Justice (DOJ) ordered the country’s four largest meat-packing companies to provide information as part of an ongoing probe of possible antitrust violations, according to a report from Bloomberg.

Price transparency has been a hotly debated topic in the beef industry for years. With the recent market volatility due to the spread of COVID-19, the disparity between cattle prices and beef prices has been garnering the attention of lawmakers, resulting in an investigation into the cattle markets. 

Barring a major setback, it appears that beef markets are moving past the worst of the disruptions that have caused upheaval is recent weeks.

The Coronavirus Food Assistance Program (CFAP) was introduced a few weeks ago by U.S. Ag Secretary Sonny Perdue as part of the effort to aid ag producers affected by the market upheaval caused by COVID-19.