It's not clear where the boxed beef cutout will settle out in the coming days. At the same time, the demand for food service has dropped sharply leading to a diverse set of impacts on various wholesale beef cuts.
Cattle producers continued to be in the crosshairs of the chaos in the global markets. In the south producers found $110 was the best trade they could get, with cattle trading as low as $105 by the end of last week.
The U.S. red meat industry is optimistic about the opportunities ahead for U.S. pork and beef in Japan. Trump and Abe's announcement puts the U.S. on an even playing field with its competitors, Halstrom says.
Beef production, and I agriculture in general, has become a pretty contentious issue over the past several years. Most often, the criticism is directed at us while we try to defend ourselves in a graceful manner.