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A Shepherd man who owns the Feedlot Steakhouse in Shepherd admitted Tuesday that he received approximately $75,000 in a COVID-19 relief loan from the Small Business Administration for his business but used the money to buy vintage automobiles.
But the big profits are going straight to the largest packing companies. not to the ranchers. now some of those ranchers are launching an effort to build their own meat plant. fighting to bring in more cash for their cattle. but can these plants pay ranchers more and still make a profit. sid miller joins us now. thanks for being with us. help us understand what is going here. beef prices are rising cattle ranchers are making less. why? >> it started some time back. back during the pandemic. a farmer would lose about $500 a head on a steer. that came out of the feed lot. the packers on that sam...
Interrupt. >> even a one day interrupt in a supply through the beef supply pipeline will have pretty large economic effects throughout the united states. so if, for instance, i had 500 head of cattle that were scheduled to go to that particular plant next week and they can't go, those cattle get backed up in the feed lot. then the cattle behind them get backed up in the feed lot. >> we're talking about the real world impact of this kind of signer attack. right now they're moving their cattle from the drought and fire threatened part of california. it is been so difficult recently to do this wo...
Factory agents and factory-aligned feedlot finishers have been very active in the last few months. While COVID-19 has disrupted the way cattle are bought and sold, it hasn’t disrupted the prices paid, with a brisk start to the 2021 cattle trade. Irish Farmers Journal analysis of the MartBids database shows that heavy cattle have seen the biggest rises over the last couple of weeks.
The Beef Quality Assurance (BQA) program is a producer-driven certification program in which cattle producers work toward a common goal to assure consumers that cattle from each segment of the