This is Miranda Reiman, senior associate editor for the Angus Journal, with the May 20, 2022, update from the AJ Daily. Today’s update includes a report on fed cattle prices, comments from the U.S. Cattlemen’s Association about the special investigator bill approved by the House ag committee this week, and an opportunity to register to attend the BIF convention virtually. 

CAB Insider: Feedlot Fundamentals Challenge Summer Quality Grade

Adapted from a release by Paul Dykstra, Certified Angus Beef LLC

In the past 10 years, the fed-cattle price has declined 6% from the first week of May through the end of June. Under current conditions, this suggests a $135 per hundredweight price at the end of June. The June Live Cattle contract currently trading at $133 per hundredweight is a bit oversold and a $2 per hundredweight discount to the 10-year cash market trend for the period. 

The cattle placement pattern beginning in the fourth quarter of 2021 shows the finished cattle supply will start to swell in June and could become a 20,000-head surplus over a year ago. Abundant fed cattle during the summer will keep a lid on market prices until cattle numbers are manageable in the fall. 

To read more, visit cabcattle.com and select CAB Insider under the News tab. 

USCA Applauds Successful Committee Vote on Special Investigator Bill 

Adapted from a release by Lia Biondo,U.S. Cattlemen’s Association

On Wednesday, May 18, the House Agriculture Committee approved H.R. 7606, the Meat and Poultry Special Investigator Act of 2022. 

The bill directs coordination between the USDA, the U.S. Department of Justice, the Federal Trade Commission and the U.S. Department of Homeland Security. It grants subpoena power to aid in the investigation and prosecution of violators of the Packers & Stockyards Act, and bolsters the legal power of the USDA by maintaining a staff of attorneys and other professionals with relevant expertise that can elevate cases of corruption. 

U.S. Cattlemen’s Association President Brooke Miller said, “While packer-allied groups blast this bill for its overreaching authority, that is precisely the reason for which the U.S. Cattlemen’s Association supports the Special Investigator Act. It seeks to provide resources to enforce the rule of law.”

For more information, go to uscattlemen.org. 

If You Can’t Attend #BIF2022 in Person, You Can Register to Attend Virtually 

Adapted from a release by Angie Stump Denton, Beef Improvement Federation

Registration is open for a virtual option of the 2022 Beef Improvement Federation Research Symposium and Convention. This year’s event will be hosted June 1-3 in Las Cruces, New Mexico. If guests are unable to attend the event in person, they can register for an online attendance option. Online registration is available at BIFSymposium.com. The cost for online registration is $100. 

For more information or to register, visit beefimprovement.org. 

The AJ Daily is compiled by Paige Nelson, field editor for the Angus Journal. For more Angus news, visit angusjournal.net.