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ANALYSIS: Cash Hog Prices Decline from Summer Peak But Remain Well Above Year Ago Levels
The summer peak for negotiated cash hog prices on a national basis was achieved on June 22 at $128.04/cwt. Since peaking, spot prices have since declined by around...
Tyson Fresh Meats Leader Testifies About Beef Industry at Senate Hearing
Shane Miller, group president of Tyson Fresh Meats, the beef and pork unit of Tyson Foods, testified about the beef industry during a hearing held today by the U.S. Senate Committee on the Judiciary. Below is Miller’s written testimony:
Chairman Durbin, Ranking Member Grassley, members of the Judiciary Committee, thank you for inviting me here today.
I proudly represent Tyson Foods, a company based in Springdale, Arkansas, and founded nearly a century ago by John W. Tyson, who started this business trucking chickens to markets across the Midwest...
NCBA-Won Funds Going Toward USDA Grants for Small, Independent Processors
The U.S. Department of Agriculture (USDA) announced the creation of two new, competitive grant funding opportunities for small, regional, and independent meat processors using funds the National Cattlemen's Beef Association (NCBA) worked to secure at the end of last year. After fighting hard for several key priorities for cattle producers in the Consolidated Appropriations Act of 2021, NCBA praised USDA for putting $55.2 million of those funds toward the critical need for greater beef processing capacity.
The competitive grant funding will be available through the new Meat and Poultry Inspection Readiness Grant (MPIRG) program. The funds will support small beef processing facilities making the improvements necessary to...
UFCW Sioux Falls Union Votes to Authorize Strike Against Smithfield
The Sioux Falls chapter of the United Food and Commercial Workers union has authorized a strike at the Smithfield Foods pork processing plant in South Dakota. The union met with company representatives Tuesday and said they hope to avoid a work stoppage.
The union is demanding that Smithfield increases its wages. UFCW Local 304A President B.J. Motley explained "We feel that during a pandemic year and after calling Smithfield workers heroes for coming to work on a daily basis to feed America, they haven't shown that appreciation at all during negotiations."
No deadline has been set yet for when a strike could happen. Hog slaughter operations are expected to...
ANALYSIS: Cattle and Hog Producers Weather Another Black Swan Event
In what was yet another black swan event, the cyberattack on JBS last week exemplified the severe impacts that extraordinary incidents can have on...
FBI Attributes JBS Cyberattack to Russia-Linked Cyber Criminal REvil
JBS, the world’s largest meat processing company, is returning to normalized operations following a cyberattack over the weekend that affected its North American and Australian servers.
On Tuesday evening, JBS released a press statement saying it had made “significant progress” in resolving the cyberattack and expected the “vast majority” of its plants to be operating on Wednesday.
JBS is also a majority shareholder of Pilgrim’s Pride, a leading chicken producer. Pilgrim’s has operations in 14 U.S. states and can process...
Statement from the USDA on JBS USA Ransomware Attack
As noted earlier by the White House, USDA is aware of the ransomware attack against JBS, which is affecting the company’s operations, including its facilities in the United States. USDA continues to work closely with the White House, Department of Homeland Security, JBS USA and others to monitor this situation closely and offer help and assistance to mitigate any potential supply or price issues. As part of that effort, USDA has reached out to several major meat processors in the United States to ensure they are aware of the situation, encouraging them to...
NCBA Pushes Congress to Address Areas of Concern in the Cattle Industry
the National Cattlemen’s Beef Association (NCBA) led a letter with the support of 37 affiliate state cattle organizations, urging the leadership of the U.S. Senate and House Agriculture Committees to address critical areas of concern in the cattle and beef industry.
Specifically, NCBA pushed Sen. Debbie Stabenow (D-MI), Sen. John Boozman (R-AR), Rep. David Scott (D-GA-13), and Rep. Glenn “GT” Thompson (R-PA-15) to consider swift Congressional action to...
Update: Some U.S. JBS Operations U.S. Affected by Cyberattack Today
JBS announced that they experienced a cyberattack over the weekend, forcing some shifts at its U.S. locations to be reduced or canceled altogether today. Industry sources report that JBS will not be operating any of its U.S. cattle plants today. This is expected to trim the day’s cattle slaughter by around 28,000 head from normal.
On the hog side, three of JBS’s U.S. hog plants are said to be down today, while two are operating at reduced capacity. While it is difficult to gauge what today’s hog slaughter could be, the common consensus is in the area of 400,000 head or potentially less. Analysts note that this Saturday’s cattle and hog slaughter could be very large to make up for the downtime...
The duration and extent of processing plant disruptions at JBS's facilities due to the cyberattack is not yet known and will be monitored day-to-day. Adequate processing capacity for the current level of supply is already an issue for the livestock industry, especially on the cattle side.
Fourth UK Beef Processing Site Gains Access to US Market
A fourth processing site in the UK has won approval to export its beef to the US – marking a major leap forward for the business and for the red meat sector as a whole.
Foyle Food Group in Gloucester is now listed on the official ‘USDA Approved’ list, which means commercial exports of beef can commence with immediate effect.
It comes after extensive work by the company with support from AHDB, Defra, the Food Standards Agency and...
Major Cyber Attack Impacts JBS' Global Operations
On Sunday, May 30, JBS USA announced that it was the target of a cyberattack. According to a media statement, “the company took immediate action, suspending all affected systems, notifying authorities and activating the company's global network of IT professionals and third-party experts to resolve the situation. The company’s backup servers were not affected, and it is actively working with an Incident Response firm to restore its systems as soon as possible.”
JBS media contact Nikki Richardson explained that a solution will take time and that transactions with customers and suppliers could be delayed.
JBS Foods is the world’s largest beef and poultry producer and the second-largest global pork producer. The company has locations in the United States, Australia, Canada, United Kingdom, Mexico, Europe, and New Zealand...
Urner Barry Releases May Soy & Wheat Report
Urner Barry Releases May Pulse Protein Report
Urner Barry Releases April Emerging Plant Protein Report
PLANT PROTEIN: Get to Know Players in the Plant Protein Market: Fat Badger Bakery
Urner Barry Releases April Soy & Wheat Report