Welcome to the Friday edition of the HOT BARN REPORT
Heard ONLY on American radio stations across the nation and online at hotbarnreport.com!
Karina Jones, Field Director for R-Calf USA joins us each Friday from her ranch in the heart of Nebraska covering what’s new and important to the family farm and ranch.
Today in world news, I mean beef industry news which is kinda like world news considering a big chunk of our beef packing industry is foreign owned. According to meatpoultry.com, JBS USA Beef in 2021, reported net revenue of $27.18 billion, which is up 25.3% from 2020. This news comes on the heels of Tyson boasting about their success last month in a CNBC article, “The average price for Tyson’s beef surged 31.7% in the quarter ended on Jan. 1, while the unit’s operating margins jumped to 19.1% from 13.2% a year ago. Overall sales for beef soared about 25% to $5 billion.”
Chief Executive for Tyson Donnie King said. “Customer demand continues to outpace our ability to supply product,” Well, that’s weird! Fat cattle were stagnant at $1.38 this week. We’ve got supply, Donnie, why aren’t you bidding?
No wonder Senator Mike Rounds is raising questions about the proposed Compromise Bill over on Twitter aimed at Senator Charles Grassley. In an interview earlier this week, right here on the HBR which you can still catch on the YAN website or app, Senator Rounds shared these questions and concerns about the Compromise bill, like, “Does this legislation really exclude 5/9 JBS plants? Does this legislation really cap Iowa at only 300% percent negotiated cash trade above Texas and won’t that drag Iowa backwards?” All I can say is Senator Rounds must be listening to all of you because those are the very questions that cattle producers across the land have been raising since legislation has been introduced. At the time of recording this HBR it was still crickets from Senator Grassley over on Twitter.
So if no one can answer our questions, I think it is safe to stay loyal to S. 949, the 50/14 Spot Market Bill and make those packers that making money hand over fist start competing for the American fat cattle. Opposing 50/14 and support the Compromise Bill, while watching packers boast of record profits and watching the American consumer pay record prices at the grocery store only makes you appear to be a global packing ally, and no friend of the independent cattle industry! Urge your Senator to take a stand and co-sponsor S. 949 today, if they haven’t already by dialing that Capital Switchboard number 202-224-3121.
Bred female sale today at Stockmens livestock; Feeders – Federly Production Sale at Crawford Livestock .. big sales next week at Presho, Mobridge, Lemmon, Basset, Platte, Creighton and North Platte salebarns .. buy safely online at CattleUSA.com!!
Creighton Livestock Market
Lemmon Livestock, INC.
Presho Livestock Auction
Platte Livestock Market
Crawford Livestock Market
North Platte Stockyards
Bassett Livestock Auction