GFM Network News

Plenty Of U.S. Beef — For Now, That Is

Reading Time: 2 minutes Americans will have plenty of beef for the freezer, with enough left over to export in 2011, but supply will shrink in 2012 because the cattle herd is getting smaller, according to U.S. government reports released July 22. A USDA feedlot cattle report showed 10.45 million cattle were being fattened for slaughter on July 1, […] Read more

No future for pork belly futures

Chicago’s iconic pork belly market has closed after 50 years of being the subject of jokes for movies and TV shows and satisfying Americans’ hunger for bacon-lettuce-tomato sandwiches. The Chicago Mercantile Exchange shut down the frozen pork belly futures market at the end of business on Friday, July 15. The closing had been expected. Trading […] Read more

U.S. Meat Sales Holding Despite Higher Prices

Reading Time: 2 minutes Consumer spending at U.S. meat counters is steady to up slightly over the past two years as worries about the economy and high unemployment have waned, according to surveys presented at a meat industry convention Apr. 13 “At this point consumers are relatively happy because they are coming out of the other side of the […] Read more

U.S. Feedlot Cattle Supply At Three-Year High

Reading Time: 2 minutes U.S. cattle supply at feedlots swelled to the largest in three years in February as high prices fuelled a rush to fatten them for slaughter. But this surge could be a precursor of a decline in supply that could soon mean higher beef prices at stores and restaurants, analysts said after a U.S. government report. […] Read more

U.S. hog herd up slightly, no expansion yet

U.S. hog producers are not expanding herds as worries about high feed costs have them managing what they have, analysts said Friday after a government report showed only a slight increase in hogs. The U.S. Agriculture Department showed the hog herd as of March 1 at 63.964 million head, up 0.7 per cent from a […] Read more

Higher prices will test consumers’ taste for beef

(Reuters) — Lady Gaga’s favourite Judas Priest burger will still cost $12 at Kuma’s Corner as the  trendy Chicago eatery resists raising prices, even though the cost of making that burger has gone up. “You can’t pass it on, not in times like this,” Kuma’s manager Frank DeBoss said of the higher beef prices, which […] Read more

Smithfield Living High Off The Hog

Reading Time: < 1 minute Smithfield Foods Inc. expects to post a record profit this year as its moves to cut meat supplies are paying off with higher prices, and its shares rose more than 10 per cent. Smithfield is recovering from two years of losses that resulted from high feed prices, a glut of hogs and a recession that […] Read more