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Cattle Industry News By Category: Economics

13 May 2020
Trade spat between China and Australia intensifies
China suspends beef imports from four Australian firms amid official disputes over the coronavirus pandemic....
CME update: live cattle futures inch up, following climbing beef prices
US live cattle futures closed higher on 12 May, with short-term contracts rising by the daily maximum....
12 May 2020
Alberta announces additional supports for agriculture sector
As COVID-19 continues to cause mass disruptions to Canada's agriculture industry, the Government of Alberta is introducing a series of new AgriRecovery supports to help farmers and ranchers....
China suspends imports from four Australian slaughterhouses amid trade tensions
Australia's Minister for Trade reports that China has suspended imports from four major Australian meat processors as souring bilateral ties disrupt the trade of several major agricultural commodities. ...
CME update: live cattle futures close lower on profit-taking
US live cattle futures ended lower on 11 May, with some contract months sinking their daily 3-cent limit on profit-taking....
11 May 2020
Australia releases its March 2020 Dairy Export Report
Year-to-date dairy exports contracted by over 8 percent but increased in value terms....
Trump promises to purchase $3 billion worth of farm goods from next week
President Trump announced that the US will begin purchasing $3 billion worth of dairy, meat and produce from farmers....
Trudeau cautions that premature reopening could send Canada “back into confinement”
Prime Minister Trudeau warns that if provinces more too quickly to reopen their economies, second wave COVID-19 infections could send the country “back into confinement this summer.”...
CME update: cattle futures prices rise as Trump administration investigates beef market
US live cattle futures rose on 8 May along with cash prices as the US government probed the beef market....
08 May 2020
CME update: US cattle futures rise on strong beef prices and restricting supplies
US live cattle futures surged by their daily trading limits for a second straight session on 7 May on soaring beef prices and concerns of meat shortages due to pacing plant closures due to COVID-19. ...
Abiec finds Brazil's 2020 beef exports steady despite pandemic
Brazil's 2020 beef exports will likely set a new record in terms of volume and value despite the economic uncertainty caused by COVID-19. ...
North American cattle market contracts sharply, leaving retailers at a loose end
As COVID-19 shutters slaughterhouses and processing plants, cattle are left on-farm, leaving retailers hungry for beef....
Trump watchful of China amid expected results of Phase 1 trade deal
President Trump told reporters that he would be able to report whether China is fulfilling its obligations under a Phase 1 trade deal between the two countries within two weeks....
07 May 2020
US and UK hoping to secure a quick trade deal as virus hammers global economy
The United States and United Kingdom launched formal negotiations on a free trade agreement on 5 May, promising to work quickly to secure a deal that could counteract the worst economic impacts of COVID-19....
FAO reports steep drop in world food prices in April due to coronavirus
World food prices fell for a third consecutive month in April amid economic and logistical upheaval from COVID-19....
President Trump urges Justice Department to investigate meat price disparities
President Trump said on 6 May that he had asked the Justice Department to look into allegations that the meat packing industry broke antitrust law due to price disparities in meat markets....
CME update: cattle futures rise on technical buying as processing plants reopen
US cattle futures surged on 6 May amid increased technical buying as investors said they were monitoring signs of meat packing plants reopening after COVID-19 infections among workers....
UK dairy industry welcomes COVID-19 aid from government
UK government enacts new funding supports for dairy farmers facing hardship due to coronavirus, NFU and RABDF welcome new aid. ...
06 May 2020
Ag Barometer index drops below 100 as coronavirus disrupts agriculture
COVID-19 concerns, declining commodity prices and supply chain woes sink producer sentiment to a three-year low. ...
Canada approves one tenth of the requested COVID-19 aid for agriculture sector
Canada will invest $252 million CAD to help farmers and food processors weather the coronavirus slump....
McKinsey report finds that zero-emission tractors and cattle that belch less gas can curb climate change
Using zero-emission farm machinery, creating a cattle herd that produce less methane and adopting new technologies can significantly cut greenhouse gas emissions from farms....
CME update: cattle futures slide after three days of gains
US cattle futures closed lower on Tuesday in a profit-taking setback after three sessions of gains....
05 May 2020
Brazilian officials warn of agriculture protectionism amid pandemic
According to a draft report obtained by Reuters, Brazilian officials expect the COVID-19 outbreak to spur a rise in global agricultural protectionism as countries attempt to secure national food supplies....
Tyson Foods warns that coronavirus will restrict US meat supply despite Trump order
The COVID-19 crisis will continue to idle US meat plants and restrict production, Tyson Foods Inc says, signalling additional disruptions to the US food supply after President Trump ordered plants to stay open....
CME update: cattle futures inch up as plants reopen and wholesale prices rise
US live cattle futures closed higher on 4 May as meat processing plants reopen after closures due to COVID-19 outbreaks among workers....
04 May 2020
Greenpeace calls for EU to scrap the CAP
Greenpeace calls for a new farm subsidy system for post-coronavirus Europe....
US retailer Kroger limits ground beef and pork purchases in some stores
On 1 May, supermarket chain Kroger Co put purchase limits on ground beef and fresh pork at some of its stores in response to growing fears over meat shortages....
CME update: US cattle futures rise as wholesale meat prices strengthen
US live cattle futures closed higher on Friday after hitting a three-week high, bolstered by stable cash cattle values and climbing wholesale beef prices as labour shortages slow the speed of slaughter....
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