Wholesale beef prices have jumped to record levels, as shoppers stockpile meat in response to the global coronavirus pandemic. But this run on beef isn’t helping cattle ranchers. On the contrary, cattle prices have plummeted since January, putting many ranchers on the brink of collapse.
Read MoreFood safety officials lifted a ban on Friday on Brazilian beef imports, introducing a potential windfall for multinational meatpackers and significant threats to American ranchers and consumers.
Read MoreLast week, nearly 500 cattle producers from 14 states rallied in Omaha, Nebraska to denounce corporate control over cattle markets and to demand that the Trump administration do something to fix it.
Read MoreOn Tuesday, several Midwestern feedlot owners along with the Ranchers-Cattlemen Action Legal Fund (R-CALF) filed a class-action lawsuit alleging that dominant meatpackers conspired to depress cattle prices starting in 2015. The case argues that JBS, Tyson, Cargill, and National Beef strategically cut back on open market cattle bids, closed plants, and imported costly foreign cattle in order to force farmers to accept lower prices and manipulate spot market cattle values.
Read MoreLast month, the nation’s fourth-largest beef packer, National Beef, announced plans to take over Sysco-owned Iowa Premium, a regional packer focused on processing Black Angus steers for the Upper Midwest. National Beef is majority owned by Brazilian firm Marfrig.
Read MoreDuring President Donald Trump’s recent trip to China, Montana Senator Steve Daines (R-MT) negotiated a $300 million beef cattle deal between the Montana Stockgrowers Association and the Chinese e-retailer JD.com. The deal calls for the retailer to buy $200 million of cattle between 2018 and 2020, and invest $100 million in a new feedlot and packing plant in Montana. Some ranchers are concerned that this unusual deal will favor certain ranchers over others, and further concentrate power over the American livestock sector in the hands of Chinese companies.
Read MoreThe most recent attack by American ranchers on the Department of Agriculture’s beef checkoff tax reached a federal court two weeks ago. The suit, filed by the Ranchers-Cattlemen Action Legal Fund (R-CALF), challenges how the checkoff program operates in Montana. But the outcome of the case could reshape how the checkoff tax system operates across the whole country.
Read MoreAmazon has applied for licenses to open liquor warehouses in Columbus and Cincinnati that would allow the company to sell beer, wine, and liquor for delivery as well as carryout. This move is the latest in the company’s increasingly aggressive attempts to position itself as a dominant player in brick-and-mortar food as well as online beverage retail.
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