GFM Network News



China’s 2020 pork output higher than expected

Reported slowing of ASF-induced decline beats expectations

Beijing | Reuters — China’s pork output posted significant signals toward recovery last year after the sector was decimated by an incurable hog disease in 2019, official data showed Monday. China’s 2020 pork output fell 3.3 per cent from a year earlier, to 41.13 million tonnes, after plunging 21 per cent in 2019, the National […] Read more


USDA unveils more COVID-19 aid, mostly for livestock farmers

Funds earmarked for farmers under contract

Chicago | Reuters — The U.S. Department of Agriculture said on Friday it will pay an additional US$2.3 billion in COVID-19 aid to farmers, directing more money to livestock producers suffering from disruptions in slaughtering and restaurant demand for meat. The aid, which comes from money allocated to USDA from previous pandemic stimulus legislation, follows […] Read more



U.S. livestock: Live cattle sink on profit-taking, technical selling

Lean hogs, feeder cattle mixed

Chicago | Reuters — U.S. cattle futures fell on Monday in a profit-taking and technical-selling setback amid concerns about weaker demand for cattle and beef, traders said. Position rolling by funds, as they closed out long positions in the spot month and bought deferred contracts on the second day of the five-session “Goldman roll” period, […] Read more

Tyson fires seven managers after probe into COVID-19 wagering

Employees had been suspended following lawsuit

Reuters — Tyson Foods said Wednesday it had fired seven managers at an Iowa pork plant after investigating allegations that they took bets on how many employees would catch COVID-19. The independent investigation, led by former U.S. Attorney General Eric Holder, came in response to a lawsuit filed by the son of a worker at […] Read more


U.S. livestock: Hog futures rally on technical buying

February live cattle futures lower

Chicago | Reuters — U.S. lean hog futures rose 3.8 per cent on Monday, notching their biggest daily gain since September, in a technical bounce from the three-week low they hit on Friday, traders said. “We hit the bottom end of the range so we are just bouncing back,” said Don Roose, president of brokerage […] Read more

China’s coronavirus testing chokes beef trade

Additional inspections, disinfections costly for importers

Beijing | Reuters — In a supermarket in downtown Beijing, refrigerator shelves normally filled with steak from around the world sit empty as tougher testing for the novel coronavirus creates supply bottlenecks and raises prices for importers. Fresh supplies of beef won’t arrive for days, a salesman at the Suning.com-owned Carrefour outlet told Reuters — […] Read more



U.S. livestock: Live cattle futures up despite slower slaughter

December lean hog futures drop

Chicago | Reuters — U.S. live cattle futures gained slightly on Friday after a week of range trading, traders said. Chicago Mercantile Exchange December live cattle futures settled 0.3 cent higher at 108.65 cents/lb. (all figures US$). CME feeder cattle futures gained 0.525 cents to end at 135.925 cents/lb. For the week, live cattle futures […] Read more