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Production Resumes at Meat Plants After a Cyberattack
Some JBS beef processing plants were operational, but not at full capacity, union officials said, after a ransomware attack shut nine plants, affecting thousands of workers.
A dormant JBS processing plant in Greeley, Colo.Credit.Chet Strange/Getty Images
June 2, 2021Updated 4:46 p.m. ET
Production began to resume at nine beef plants in the United States on Wednesday, a day after a cyberattack on the world’s largest meat processor forced them to shut down.
Thousands of workers at the company’s beef, pork and poultry plants in Australia, Canada and the United States were affected as shifts were altered or canceled on Monday and Tuesday. JBS accounts for about one-fifth of the total cattle slaughter in the United States and about 18 percent of the hog slaughter, according to data compiled by Daily Livestock Report.
5/13/2021 By Julie Ingwersen CHICAGO, May 13 (Reuters) - U.S. live cattle futures fell 2.5% on Thursday, following broad declines in grain and livestock markets that analysts attributed to fund-driven long liquidation and technical selling after recent highs. It seems it was a risk-off day all across the board . It was more of a technical move and just money flow, taking some risk off the table, said Altin Kalo, economist at Steiner Consulting Group. Chicago Mercantile Exchange June live cattle futures settled down 3 cents at 115.600 cents per pound while August ended down 2.925 cents at 119.400 cents. Firm wholesale beef prices underpinned the market. Choice cuts were up $1.70 on Thursday to $316.78 per hundredweight (cwt), the highest in nearly a year, while select cuts fell $1.25 to $295.91 per cwt, according to the U.S. Department of Agriculture.
Capacity Constraints in U.S. Beef Supply Chain
Wednesday May 12th, 2021 Black swan events gathered much blame for poor prices and margins, yet, even without the pandemic and a packing plant fire, packers held market leverage as processing capacity was often stretched to its limits.
Adding packing capacity would result in both a larger U.S. beef industry and more balanced profitability throughout the supply chain, RaboBank’s food and agriculture division said last fall.
“If such expansion can be achieved through in-plant technology improvement and new, consumer demand-driven small and medium-sized plants, profitability will be more evenly distributed throughout the beef and cattle supply chain,” according to Dustin Aherin, RaboBank analyst.
4/21/2021
By Julie Ingwersen
CHICAGO, April 21 (Reuters) - U.S. cattle futures closed
lower on Wednesday on lackluster cash markets, soaring feed
costs and technical selling, traders said.
Chicago Mercantile Exchange June live cattle futures
settled down 1.950 cents at 117.250 cents per pound, with
chart-based selling accelerating as the contract fell below its
100-day moving average near 117.650 cents.
CME August feeder cattle futures ended down 2.600
cents at 151.925 cents per pound, pressured as Chicago Board of
Trade corn futures neared an eight-year high above $6 a
bushel, signaling higher cattle feed costs.
In the cash market, cattle traded in Texas and Kansas at
$119 to $120 per cwt, steady to $1 lower than last week, the