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A court-appointed receivership has reached an agreement to sell the assets of Agridime, now known as American Grazed Beef, after it was discovered that the former owners had been running a Ponzi scheme. The owners had raised $191 million from over 2,100 investors by offering investments related to the purchase and sale of cattle. The assets being sold include the remaining frozen meat supply, equipment, and nine parcels of land. The buyer, Wylie Bice, plans to continue operating American Grazed Beef and has agreed to pay 20% of future profits to benefit the investor victims. The sale is subject to approval and objections can be made until October 2, 2024. [Extracted from the article]

The Colombian government has lifted its ban on U.S. beef from 14 states affected by avian influenza in dairy cows since April. The U.S. Meat Export Federation (USMEF) credits the tireless efforts of the U.S. Department of Agriculture and U.S. Trade Representative officials for this development. Prior to the ban, Colombia was a promising market for U.S. beef, with monthly purchases averaging $3 million. USMEF expresses gratitude to the U.S. government and Colombian importers for their support during this challenging time. USMEF aims to rebuild U.S. beef's presence in Colombia, as other countries like Canada have taken advantage of the situation to increase their market share. [Extracted from the article]

Settlements totaling $200.2 million have been reached with multiple red meat processing companies in a wage-fixing lawsuit. The settlements include $14.2 million with National Beef Packing Co., $29.75 million with Cargill Meat Solutions Corp., and $13.5 million with Hormel Foods Corp. The lawsuit alleges that the companies engaged in wage-fixing to keep wages lower than market rates. The affected employees include those in various positions along the processing lines. While Cargill and Hormel deny any wrongdoing, they chose to settle to avoid litigation costs and distractions. The law firm, Hagens Berman, continues to litigate against the remaining defendants. [Extracted from the article]

The Colorado Parks and Wildlife (CPW) has announced that they are capturing and relocating the Copper Creek wolf pack after numerous livestock depredations. The decision was made after considering input from various stakeholders and with limited options available. The goal of the operation is to relocate the pack while assessing the best options for their contribution to the restoration of wolves in Colorado. CPW is committed to restoring the gray wolf population while also addressing the needs of Colorado communities. Since the release of 10 wolves in December, there have been 28 reported incidents of livestock damage. [Extracted from the article]

Florida Governor Ron DeSantis signed a law in May that bans the manufacture, distribution, and sale of cultivated meat, making it the first state in the country to do so. Nonprofit law firm Institute for Justice (IJ) and cultivated meat company UPSIDE Foods have filed a federal lawsuit challenging the ban. The lawsuit argues that the ban is not based on safety concerns but rather economic protectionism. UPSIDE Foods wants the right to sell its product to willing consumers in Florida, and IJ argues that protecting in-state agricultural interests from out-of-state competition is not a legitimate use of government power. [Extracted from the article]

William Dalton Edwards, a 25-year-old man from Mount Airy, North Carolina, has pleaded guilty to a conspiracy charge for his involvement in a $1 million cattle theft scheme. Edwards conspired with another person to defraud sales barns in North Carolina, Texas, Oklahoma, and Virginia between April 2018 and October 2022. He and his co-conspirator purchased cattle using worthless checks and transported the stolen cattle out-of-state before the fraud was discovered. This scheme resulted in over 3,000 head of cattle being fraudulently obtained and caused more than $1 million in losses to sales barns. Edwards pleaded guilty to multiple charges and faces a maximum sentence of five years in prison, as well as restitution and fines. [Extracted from the article]

The U.S. Department of Agriculture (USDA) has extended the comment period for their proposed rule on "Fair and Competitive Livestock and Poultry Markets" by 15 days, according to the National Cattlemen's Beef Association (NCBA). The original deadline for comments was August 27, 2024, but it has been extended to September 11, 2024. The NCBA believes that the extension is not enough time to properly solicit public comment and review a rule that will have a significant impact on the cattle industry. The proposed rule aims to provide clarity on what constitutes "unfair" practices in the livestock and poultry markets and ensure fair and competitive markets for producers. Comments can be submitted online through the USDA's website. [Extracted from the article]

The USDA has lowered its forecast for total U.S. red meat and poultry production in 2024 to 107.54 billion pounds. This is due to lower broiler and turkey production, although beef and pork production is expected to increase. The forecast for beef production in 2024 has been raised to 26.66 billion pounds, while pork production is expected to reach 28.14 billion pounds. The forecast for broiler production has been lowered to 46.78 billion pounds, and the turkey production forecast has been reduced to 5.21 billion pounds. The egg production forecast remains unchanged at 9.09 billion dozen. In 2025, beef production is expected to increase, while broiler and turkey production forecasts have been lowered. The forecast for milk production in both 2024 and 2025 has been reduced, while the all milk price forecast has been raised. [Extracted from the article]

The EMIT LESS Act, introduced by U.S. Senators Michael Bennet, Mike Crapo, Tammy Baldwin, and Jerry Moran, aims to reduce enteric methane emissions in the agricultural sector. Enteric methane, emitted during the digestive process of livestock, is the largest source of agricultural methane emissions. The bill seeks to integrate emissions-reduction practices into USDA conservation programs and provide financial incentives to farmers who adopt them. The bipartisan legislation has garnered support from various agricultural and environmental groups, as well as industry leaders such as the American Feed Industry Association, National Milk Producers Federation, and Danone North America. [Extracted from the article]

A mysterious disease affecting dairy cows in the Texas Panhandle, New Mexico, and Kansas has been identified as a strain of highly pathogenic avian influenza (HPAI). The disease has been confirmed through testing of milk samples and oropharyngeal swabs from affected cows. The virus appears to have been introduced by wild birds. The Texas Department of Agriculture is implementing biosecurity measures to prevent further spread of the disease, and the dairy industry assures consumers that safety protocols and pasteurization ensure that dairy products remain unaffected. The National Cattlemen's Beef Association is also encouraging enhanced biosecurity measures for cattle producers. [Extracted from the article]

The Food and Agricultural Policy Research Institute at the University of Missouri (FAPRI) has released its annual agricultural market baseline outlook, which projects a continued downward trend in farm commodity prices throughout 2024 and beyond. Net farm income is also expected to fall to its lowest level since 2020. The report notes that lower prices for farm inputs will partially offset the decline in prices, but it won't be enough to avoid decreases in net returns. Livestock prices, with the exception of beef, are expected to remain lower, while consumers may see a slight decrease in food price inflation. [Extracted from the article]

Xcel Energy has acknowledged that its facilities may have played a role in the ignition of the Smokehouse Creek Fire in Texas, although it disputes claims of negligence. The company is cooperating with investigations and conducting its own review. The fire, now the largest in the state's history, has burned 1.06 million acres and is 74% contained. Xcel Energy expressed sympathy for those affected and encouraged individuals to submit claims for property or livestock losses. The company also stated that it does not believe its facilities caused the Windy Deuce Fire. Xcel Energy is committed to working with regulators and policymakers to mitigate wildfire risks and ensure public safety. [Extracted from the article]

The recent wildfires in the Texas Panhandle have resulted in significant cattle losses for individual ranchers, but they are not expected to impact beef cattle markets or consumers. While it may take weeks to estimate the number of lost cattle, the overall impact of the wildfires is expected to be localized. The Texas Agriculture Commissioner has estimated that over 6,000 cattle have already been lost, along with fencing and structures. However, the Texas A&M AgriLife Extension Service states that the state's beef cow populations are spread throughout the state, and the loss of cattle is not expected to affect prices or consumers due to the scale of the entire market. [Extracted from the article]

Multiple wildfires have burned over 1.26 million acres in Texas since February 25th, with the Smokehouse Creek Fire becoming the largest wildfire in the state's history. While progress has been made in controlling and mopping up the fire perimeters, the fire is still only 15% contained. The loss and damage caused by the wildfires are described as catastrophic, with homes, property, and livestock being destroyed. Efforts are being made to support recovery, including providing fencing supplies and hay to affected livestock owners. The Texas Department of Agriculture has set up resources and supply points to assist those affected by the wildfires. [Extracted from the article]

The Smokehouse Creek Fire in Texas has become the largest wildfire in the state's history, burning 1.075 million acres and only being 3% contained. Other fires, such as the Windy Deuce Fire, are also burning in the Panhandle. The fires are causing significant losses for farmers, ranchers, and the agriculture industry, with millions of cattle at risk. The Texas Department of Agriculture is calling for donations to assist those affected, and the Texas & Southwestern Cattle Raisers Association is urging donors to contribute to their Disaster Relief Fund. In neighboring Oklahoma, several active wildfires are also being battled. [Extracted from the article]

Multiple counties in Texas and Oklahoma are currently battling large wildfires due to dry conditions, high temperatures, and increased wind speeds. The largest fire, the Smokehouse Creek Fire in Texas, has burned 850,000 acres and is 0% contained. Other active fires include the Windy Deuce Fire and the Grape Vine Creek Fire. The impact on agriculture and livestock is still unknown, but efforts are being made to rescue animals. Governor Greg Abbott has declared a disaster in 60 Texas counties and has directed additional resources to support firefighters. In Oklahoma, several active fires have burned over 115,000 acres. Despite cooler temperatures, fire danger remains due to dry conditions. Donations are being urged to support the victims of these wildfires. [Extracted from the article]

Congressman Ronny Jackson, a Republican from Texas, has introduced a resolution to oppose the importation of fresh beef from Paraguay. The resolution is in response to the decision made by the USDA in November 2023 to allow the importation of Paraguayan beef based on outdated risk assessment data. Jackson argues that this decision puts the US beef, pork, and sheep industries at risk of foreign animal diseases such as Foot and Mouth Disease. Agriculture groups have expressed concerns about the risks associated with this decision and have supported Jackson's resolution. Senators Jon Tester and Mike Rounds have also introduced legislation to continue the ban on beef imports from Paraguay and establish a working group to evaluate the threat to food safety and animal health. [Extracted from the article]

According to a report from the USDA, total U.S. meat and poultry production is expected to see minimal growth in 2024, with a forecasted increase of only 0.1% to 107 billion pounds. The beef cattle sector is facing challenges, including high feeder calf prices and lower hay stocks. As a result, the beef cow herd is expected to decrease. In the hog sector, production is expected to rise by 2%, despite negative returns for farrow-to-finish operators. Poultry production is predicted to increase by about 1%, with broiler production rising and turkey production facing challenges. Egg production is expected to see a slight year-over-year increase. [Extracted from the article]

The article discusses the importance of competition and transparency in the cattle market for the longevity of the livestock industry. It highlights the decline in small auction markets and the decrease in the number of beef producers, which has led to a loss of competitive edge. The article also mentions the consolidation in the feedlot sector and the decrease in the number of processing plants. Efforts to increase competition, such as funding and initiatives to encourage small and medium-sized processing plants, are discussed, but concerns are raised about their sustainability and the resistance from the main packers. The article emphasizes the need for unity and collaboration in finding solutions to concentration and competition in order to maintain market share and competitiveness in domestic and global markets. [Extracted from the article]

The report was prepared for the FDA by the Reagan-Udall Foundation (the Foundation) and summarizes the work completed over a multi-year cooperative agreement funded by the FDA. The U.S. Food and Drug Administration (FDA) has opened a docket to seek public comment on a report outlining a potential framework for establishing a public-private partnership (PPP) to collect and analyze antimicrobial use (AMU) data from food-producing animals. [Extracted from the article]

The developers of the tool surveyed cow-calf producers and feedlot operators about their information-recording priorities and willingness to share information in the supply chain downstream. The article describes how developers consulted with cow-calf producers and feedlot operators to get their input and priorities to guide development of the CalfDex recordkeeping system. The beef cow-calf industry has been slow to adopt electronic recordkeeping tools. [Extracted from the article]

North Dakota's state veterinarian says the state's first reported case of anthrax this year is a reminder to livestock producers to take action to protect their animals from the disease, especially in areas with a past history of the disease. "With this detection in Kittson County, livestock producers who graze their animals on pasture in and around the county should talk to their veterinarian about vaccinating their animals if they aren't already.". [Extracted from the article]

Further, improving pasture conditions, relatively cheaper corn prices, and the prospect for higher fed cattle prices have fueled feeder cattle sales. Feedlot placements, as well as feeder and stocker sales receipt data, during the first half of 2023 point to a faster pace than what was expected at the beginning of this year, USDA economists Russel Knight and Hannah Taylor noted in the latest USDA "Livestock, Dairy, and Poultry Outlook.". [Extracted from the article]

Currently, interfering with livestock transportation is a misdemeanor that carries a $1,000 fine, but the new law makes it a class E felony for the first offense and a class C felony for any subsequent offense. Missouri Gov. Mike Parson recently signed a public safety bill package that includes increasing the penalty for individuals who interfere with the transportation of livestock. [Extracted from the article]

While input prices may come down slightly, he explained that higher feeder cattle prices will hurt margins as Christmas nears. Cattle leaving the yard from June through November are projected to have pretty healthy net returns, according to Kansas State University economist Glynn Tonsor. "What happens as we progress is there is a slow uptick in expected fed cattle price, but there is a much faster increase in the projected feeder cattle price", Tonsor said. [Extracted from the article]

The U.S. Department of Agriculture released the latest "Cattle on Feed" report on Friday, showing feedlot inventory totaled 11.6 million head on June 1, 2023, down 3% from June 1, 2022. B Feeder prices luring more cattle into feedlots b Feedlot returns were very strong during May and have been positive for a lot of the year, which Shagam said has brought very strong demand for calves. [Extracted from the article]

Jayson Lusk has announced that he will be departing Purdue University to become the next vice president and dean of the division of agricultural sciences and natural resources at Oklahoma State University, beginning early August. Lusk has served as distinguished professor and head of the agricultural economics department at Purdue University since 2017. [Extracted from the article]

"Once opened, our case-ready beef facility in Olathe will mark an important next step in our journey to create an end-to-end Angus beef supply chain, ensuring our customers have access to the high-quality meats they expect at the everyday low prices they rely on". Walmart has announced it is building its first-ever fully owned and operated case-ready beef facility in Olathe, Kansas. [Extracted from the article]

The order also permanently prohibits Easterday from trading on or subject to the rules of any CFTC-registered entity and from engaging in any activities requiring CFTC registration. The Commodity Futures Trading Commission (CFTC) announced this week that a federal judge has granted a permanent injunction against Cody Easterday and is requiring him to pay a $1 million civil monetary penalty in connection with a phantom cattle fraud scheme. In addition to requiring Easterday to pay $1 million civil monetary penalty, the order permanently enjoins Easterday from further violating the Commodity Exchange Act and CFTC regulations, as charged. [Extracted from the article]

Decreases in corn, wheat, beef, and poultry exports led the USDA to reduce its latest 2023 U.S. agricultural exports forecast to $181.0 billion, down $3.5 billion from its February forecast. "We're looking at a trade gap of about $17 billion in terms of imports over exports", said USDA Chief Economist Seth Meyer, adding that a large portion of this is in horticultural products. [Extracted from the article]

The ceremony was hosted by the U.S. Department of Agriculture's Agricultural Research Service (ARS) and the University of Kentucky's College of Agriculture, Food and the Environment (UK-CAFE), which will house the new facility. Agriculture Secretary Tom Vilsack participated this week in a groundbreaking ceremony for a new $65.9 million research facility, known as the Forage-Animal Production Research Unit (FAPRU), on the University of Kentucky campus. [Extracted from the article]

B Tighter cattle supplies to push prices higher b Based on recent price data in early May and expected firm demand, USDA has raised its annual fed steer price to $166.50/cwt. in 2023, a 15% increase from last year. Based on recent price data and declines in forecast corn season average prices, USDA forecast an annual feeder steer price of $205.40/cwt., which is 24% higher than last year. USDA's newly released "Cattle on Feed" report showed an inventory of 11.6 million head on feed as of May 1, 2023, a 3% decline from May 1, 2022. [Extracted from the article]

Overall, herd health continues to be a big deal for the cattle industry, adds Dr. Patterson. Results from the 2022 National Beef Quality Audit showed that the cattle industry has made great progress on past key areas of focus, but it also shed light on issues that need addressing. [Extracted from the article]

Last quarter, President and CEO of Tyson Foods Donnie King warned Q2 was going to be an even greater challenge for the company. Beef and pork sales year over year were down 5.4% and 10.3%, respectively, while chicken sales compared to the same quarter last year were 2% higher. "Last quarter we said that we expected Q2 to be tougher than Q1, and this quarter was definitely a tough one", King said during a conference call. [Extracted from the article]

Claim amounts should be for the gross amount McClain agreed to pay for livestock, USDA said. McClain Farms Inc., 7M Cattle Feeders Inc. and McClain Feed Yard Inc. all filed Chapter 7 bankruptcy in the United State Bankruptcy Court for the Northern District of Texas. Unpaid sellers must act quickly as the law requires that claims be filed with USDA and McClain within 30 days after payment is due, or within 15 business days after a payment instrument issued to the livestock seller has been dishonored. [Extracted from the article]

A newly passed bill requiring more transparent labeling of analogue and cell-cultured products is on its way to Texas Governor Greg Abbott's desk for his signature. Texas Farm Bureau President Russell Boening said Texas consumers will benefit from the new labeling requirements and thanked the Texas Legislature as well as State Sen. Charles Perry and State Rep. Brad for addressing the issue of deceptive labeling of food products. [Extracted from the article]

Tyson Foods is laying off 15% of its senior leadership and 10% of its corporate staff, according to reports. King further said efficiency in operations and the overall company would be a focal point moving forward, especially since the second quarter was expected to be "seasonally softer" than the first quarter. [Extracted from the article]

The vast majority of food that is contributing to our emission crises lies in meat and dairy products", Mayor Adams stated. New York City Mayor Eric Adams, a self-proclaimed vegan, and Chief Climate Officer and New York City Department of Environmental Protection (DEP) Commissioner Rohit Aggarwala released this week the city's first integrated greenhouse gas inventory, which incorporates emissions from the production and consumption of food. [Extracted from the article]

"Consumers may have seen moderate relief on beef prices at the store, but overall grocery prices are still rising, and smaller meat portions are a good way to keep the overall grocery bill in check", said Brian Earnest, lead economist for animal protein at CoBank. B Weak chicken prices, elevated feed costs weigh on sector b Looking at the broiler sector, Earnest said elevated feed costs and weak chicken prices have weighed heavily on integrated broiler producers' bottom lines. Despite some recent improvement, inflation and higher retail meat and poultry prices are weighing on consumer buying. [Extracted from the article]

While the product in the scenario above was transported from a California origin, AgTC noted that most U.S. ag products begin the export journey in the Midwest and Southeast states. Further, the cost to haul product to East Coast or Gulf ports may deter shipments altogether, leading to additional supply in the U.S. market. The Agriculture Transportation Coalition (AgTC) shared that one of its members had 10 trucks turned away, which then had to be stored in a yard close to the port at a total cost of $2,000 per container. [Extracted from the article]

"Net farm income is likely to fall back from the record levels of 2022 and consumer food price inflation is also likely to slow in 2023", Westhoff said. Consumer food price inflation jumped to 9.9% in 2022 as farm commodity prices rose, labor and other costs increased, supply chain problems continued, and consumer demand was strong. [Extracted from the article]

The listing was previously set to take effect at the end of January, but due to pressure on the Biden Administration from National Cattlemen's Beef Association (NCBA) and its allies in Congress, the rule was delayed until March 27. Prior to filing the lawsuit, Attorney General Paxton issued a Notice of Intent to begin the process of suing the Biden Administration. [Extracted from the article]

The listing was previously set to take effect at the end of January, but due to pressure on the Biden Administration from National Cattlemen's Beef Association (NCBA) and its allies in Congress, the rule was delayed until March 27. Prior to filing the lawsuit, Attorney General Paxton issued a Notice of Intent to begin the process of suing the Biden Administration. [Extracted from the article]

Tomazoni said the company is confident in its medium and long-term results based on its geographical and protein diversification strategy, "which has historically delivered superior outcomes." Reporting a net income 24.5% lower than in 2021, JBS Chief Executive Officer Gilberto Tomazoni said the company's 2022 financial results demonstrate the importance of responsible financial management as well as the company's ability to anticipate the natural cycles of in the global animal protein industry. [Extracted from the article]

In 2019, the Missouri Senate passed a Senate Bill 391 prohibiting counties from imposing rules on CAFOs that are "inconsistent with or more stringent than" state law or regulation. The Missouri Supreme Court ruled this week that a state law preventing counties from imposing regulations on concentrated animal feeding operations (CAFOS) does not violate the state's Constitution. [Extracted from the article]

The U.S. Department of Agriculture (USDA) announced today an investment of more than $43 million in meat and poultry processing research, innovation and expansion in support of its ongoing efforts to transform the food system at every stage along the supply chain. As part of the MPPFSRI Phase III funding investments, prior Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) awardees with relevant technologies were invited to apply for this funding opportunity. [Extracted from the article]