Sao Paulo | Reuters — JBS, the world’s largest meatpacker, posted an almost 10 per cent drop in net profits, to US$766 million, driven by the relative weakness of its U.S. beef and pork units in the second quarter, according to an earnings statement on Thursday. Still, it beat analysts’ forecasts. JBS reported a 4.6 […] Read more
JBS quarterly profit falls almost 10 per cent but tops estimates
Cattle prices 'above the expected level'
Optimism has returned with the rains for the cattle sector
Producers still dealing with drought fallout, but looking ahead to better days
Reading Time: 4 minutes Cattle producers are feeling cautiously hopeful, thanks to June and July rains. “It’s a sigh of huge relief, as least what I experienced in this area — it’s just a burden of worry lifted,” said Fred Lozeman, who farms with his cousin, runs two herds and operates a 2,000-head feedlot west of Claresholm. “There were […] Read more
National cattle producer group rebrands
Former Canadian Cattlemen's Association renamed
Canada’s national beef cattle producer body is rebranding under a slightly shorter new name that serves in part to clear away any potential whiff of a guys-only club. The organization formerly known as the Canadian Cattlemen’s Association on Thursday launched what it describes as a “a new brand identity, highlighting the strong and diverse group […] Read more
Be strategic when rebuilding your cattle herd following drought
Rebuilding your herd with your own heifers will be the best option for most operations
Reading Time: 4 minutes Producers who were forced to cull their herds during last year’s drought may need years to rebuild their herds back to pre-drought levels. “When the drought hit last summer, one of the questions that came up was what if guys had to cull really hard,” said Brenna Grant, executive director of Canfax. “Every operation has […] Read more
It’s the Oscars of beef research
Reading Time: < 1 minute Know a great researcher who has helped move the cattle sector forward? The Beef Cattle Research Council is looking for nominations for the Canadian Beef Industry Award for Outstanding Research and Innovation. The award recognizes contributions in a host of areas such as animal health and welfare, environmental stewardship, feed efficiency, and forage production. Anyone […] Read more
Klassen: Feeder market showing strength in deferred positions
Compared to last week, western Canadian yearling prices were $3-$5 lower on average while calves traded steady to $4 lower. Outside central Alberta, the steer-heifer spread appeared to widen by $2-$4. Strength in corn futures contributed to the defensive tone. Feedlot operators buying hand-to-mouth have been caught off guard with the recent jump in feed […] Read more
Klassen: Feeder cattle market experiences volatility
Compared to last week, western Canadian yearling markets traded $2 higher to as much as $5 lower depending on the region. Mid-weight calves weighing 650-800 lbs. were relatively unchanged while lighter weight calves were steady to $3 higher on average. June live cattle are off $9 from their mid-February highs while the December 2022 live […] Read more
JBS to help fund home purchases for Brooks staff
Company offering zero-interest loans for down payments
One of the biggest beef packers operating in Canada is pledging $1.7 million for a one-year pilot program to help employees buy or upgrade homes. JBS Foods Canada, which operates Brazilian meat packer JBS’s plant at Brooks, Alta., on Tuesday announced the launch of what it calls the “Homebuyer Dream Fund,” providing zero-interest loans to […] Read more
JBS reaches ‘icebreaker’ settlement of beef price-fixing claims
Reuters — JBS has agreed to pay US$52.5 million to settle litigation accusing meatpacking companies of conspiring to limit supply in the $63 billion-a-year U.S. beef market in order to inflate prices and boost profit. The preliminary settlement by the Brazilian company and its U.S. units with so-called direct purchasers was disclosed on Tuesday, and […] Read more
Klassen: Feeder market establishes short-term stability
Compared to last week, western Canadian feeder cattle traded $2-$4 on either side of unchanged. Steady demand was noted on 800-plus-pound cattle, but calves and lighter weights experienced softer buying interest. Favourable weather and optimal pen conditions along with firmer live cattle futures supported the yearling market. Imports of U.S. corn continue to run 10-14 […] Read more