Reading Time: 2 minutes Chicago | Reuters — Ranchers in September drove 13.5 per cent more cattle into U.S. feedlots than the same month a year earlier, the U.S. Department of Agriculture reported on Friday. The result topped analysts’ average forecasts and hit its highest level for the month in six years. “The good news for the consumer is […] Read more
U.S. September cattle placements surge
Brazil court unfreezes JBS owners’ assets
Reading Time: < 1 minute Brasilia | Reuters –– A Brazilian federal appeals court on Thursday granted an injunction releasing assets belonging to the Batista brothers, owners of the world’s largest meatpacker JBS SA, Ticiano Figueiredo, a lawyer representing the defendants, said. A spokeswoman at the appeals court did not immediately reply to a request for comment. On Oct. 6, […] Read more
JBS shuts seven plants in Brazil after asset freeze
Reading Time: 2 minutes Sao Paulo | Reuters — Brazilian meatpacker JBS SA shut down seven slaughterhouses in Mato Grosso do Sul after a court-ordered asset freeze affected its operations in Brazil’s second largest cattle-producing state, a press representative said on Wednesday. The world’s largest meatpacking company said in an emailed statement that the plants would stay closed until […] Read more
Alberta rancher, advocate James Hargrave, 34
Reading Time: 3 minutes A leader in southern Alberta’s cattle ranching community died in a vehicle crash while helping fight wildfires along the Alberta/Saskatchewan border on Tuesday night. Cypress County officials have identified the firefighter as James Hargrave, 34, a volunteer with the fire station at Walsh, Alta., about 50 km east of Medicine Hat. Alberta’s Agriculture Minister Oneil […] Read more
Klassen: Feeder cattle market surges
Reading Time: 2 minutes Western Canadian feeder cattle markets experienced a precipitous bounce over the past week. Compared to seven days earlier, yearling traded $4-$6 higher; calf markets were trading $3 to as much as $10 above week-ago levels; prices for feather-light bawlers surged with 300- to 400-pounders touching the magical $300 level in some areas. Optimal weather enhanced […] Read more
JBS pulls plan for U.S. unit IPO
Reading Time: 2 minutes Sao Paulo/Brasilia | Reuters –– JBS SA has pulled a planned US$500 million U.S. initial public offering of processed food subsidiary JBS Foods International BV, almost six months after a spree of corruption and food safety scandals in Brazil hurt investor demand for the deal. In a Friday filing with the U.S. Securities and Exchange […] Read more
Japan to propose changes to beef import safeguards in talks with U.S.
Reading Time: 2 minutes Tokyo | Reuters — Japan will propose changes to its safeguard mechanism on frozen U.S. beef imports that will shorten review periods and allow importers to voluntarily lower import volumes to prevent tariffs from automatically kicking in, two government sources said on Thursday. The proposal will be made at the second round of the U.S.-Japan […] Read more
CME plans no more changes to cattle contract for now
Reading Time: 2 minutes Chicago | Reuters — CME Group plans no further moves to reduce volatility in its cattle futures market, after making a series of changes to rein in wild price swings that drove away hedgers, a managing director said on Wednesday. Over the past two years, the exchange operator, which owns the Chicago Mercantile Exchange and […] Read more
JBS owners ‘profited’ from inside information, Brazil police say
Reading Time: < 1 minute Brasilia | Reuters — Brazil’s police investigation into insider trading by the owners of the world’s largest meatpacker JBS SA has found that they made a profit by taking financial positions before details of their plea bargain deal with prosecutors became public, the head of the probe said Tuesday. Police chief Edson Garutti, told Globo […] Read more
Klassen: Friendly beef price outlook supports feeder market
Reading Time: 2 minutes Compared to last week, yearling prices were $2 to as much as $5 higher, while calf markets traded $3-$7 above week-ago levels. The yearling run is coming to a close and feedlots scrambled to secure yearling ownership. Across Alberta, feature lots of high-quality 900-lb. steers were trading around $190 and this set the tone for […] Read more
A message from April Stewart, Country Guide's Associate Editor
