What’s new in beef cattle industry news? Here is a roundup of the latest headlines from the mainstream media. The theme for 2022 continues to be rising food prices, inflation, and supply chain issues.
1. “Colorado Parks and Wildlife makes first payment to rancher for wolves killing cattle” by Miles Blumhardt for the Coloradoan
Accordin to the article, “Colorado Parks and Wildlife paid landowners nearly $450,000 last year for bears getting into beehives and killing cattle and sheep, mountain lions taking goats and elk eating hay and tearing down fences. Now, for the first time, the state wildlife agency is paying for wolves killing a cow.”
2. “Chipotle says your steak burrito may get even more expensive” by Leslie Patton for Bloomberg
Patton writes, “Chipotle Chief Executive Officer Brian Niccol said he’s not seeing any signs that inflation is slowing down, specifically highlighting higher beef costs. Chipotle, which last year added smoked beef brisket to its menu as a limited-time item, has already raised prices, but more increases may be on the table as expenses rise. Beef and freight have been the two largest pressures for the company, Niccol said in an interview after the company reported earnings.”
3. “Tyson Foods scores an earnings beat on higher beef and chicken prices. The stock jumps.” by Karishma Vanjani for Barron’s
Per the article, “Tyson said the average price of beef rose by nearly 32%, lifting sales to $5 billion. Chicken prices rose 20% and pork prices gained 13%. Beef sales volume fell 6.2%, the company said. Chicken volumes rose 3.6%, and pork volumes rose 0.2%. Tyson has been able to increase its prices— and maintain its strong performance — because of robust consumer demand. On an average, the company increased prices by 13% across all its segments. Tyson’s adjusted operating income jumped by 42% last year to $4.29 billion versus 2020.”
4. “Brace yourself: Grocery prices are about to go through the roof — again” by David Lazarus for KTLA
Lazarus writes, “Sick of sticker shock at the supermarket? Don’t expect relief any time soon. That’s the word from mighty Goldman Sachs, which says in a report to clients that grocery prices will rise by as much as 6% this year — on top of a similar increase last year.
“They blamed COVID-related supply issues, as well as high labor costs and rising expenses for fertilizer and other farming necessities. Goldman’s forecast is the latest gut punch for U.S. consumers grappling with rising costs for practically everything, from rent to food.”
5. “Pandemic border protests strand cattle and car parts, snarling Canada-U.S. trade” by Juli Gordon and Rod Nickel for WTVB
An excerpt reads, “Protests in Canada against vaccine mandates have disrupted two key U.S. border crossings, and are snarling hundreds of millions of dollars daily of trade, ranging from cattle to car parts. Demonstrations demanding an end to federal COVID-19 vaccine mandates for cross-border truck drivers began Jan. 28 in the Canadian capital Ottawa and have spilled to Canada-U.S. border crossings at Windsor, Ontario and Coutts, Alberta.”
The opinions of Amanda Radke are not necessarily those of beefmagazine.com or Farm Progress.