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Brazil beef output to hit record in 2024, Conab says

Sao Paulo | Reuters – Brazil’s beef production is expected to reach a record 10.19 million metric tons in 2024, national crop agency Conab said on Thursday, a 7.1 per cent year-on-year increase that would eclipse the current all-time high set in 2006. Beef exports from the South American country are seen reaching 3.44 million




 Photo: Canada Beef

Klassen: Buyers tasting feeder cattle prices for fall run

For the week ending July 2, Western Canadian yearling prices were steady to $5 higher compared to seven days earlier for larger packages. Small groups of 800-pound-plus cattle were $10 to $15 discounted to pen-sized lots. Calf markets were relatively unchanged from the prior week, although volume was limited. There is significant open demand for yearlings and finishing feedlot operators are watching how prices develop.  



Photo: Canada Beef

Maritime beef producers get price protection

Two-year pilot gives Maritime producers an equivalent program to the rest of the country

Producers in New Brunswick and Prince Edward Island, and soon Nova Scotia, will have access to a program that will allow them to purchase insurance on price protection for their beef cattle in case of an unforeseen market disruption.


Pigs.

U.S. livestock: CME hogs rally after contract lows; cattle futures jump

Chicago | Reuters – Lean hog futures rallied at the Chicago Mercantile Exchange on Friday after falling earlier to contract lows under pressure from increased U.S. production. Cattle futures also climbed. A rise in wholesale prices for U.S. pork helped trigger the turnaround in hogs, analysts said. The U.S. Department of Agriculture priced the pork carcass cutout

To defer income under LTD, the breeding herd must have been reduced by at least 15 per cent.  Photo: Canada Beef

Feds announce early livestock tax deferral

Livestock producers in drought-affected areas are getting and early livestock tax deferral (LTD) for the 2024 season. The federal government said the situation has become more challenging for producers due to climate change, when announcing a list of regions eligible for the deferral on June 14. The LTD allows producers in designated areas, who were