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The Livestock Mandatory Reporting Act of 1999 (Title IX of the FY2000 USDA appropriations act (P.L. 106-78)) requires large packers and importers to report to USDA the details of all transactions involving purchases of livestock and imported boxed lamb cuts, and the details of all transactions involving domestic and export sales of boxed beef cuts, sales of domestic and imported boxed lamb ...
In 2023 alone, the U.S. imported 3.7 billion pounds of boxed beef and 2 million live cattle — and consumers cannot see where it came from! Cuts of ribeye, New York strip steak and dry-aged New ...
Meat prices are currently 7.5% higher than this time last year. The country's cattle inventory is shrinking and has been for a while. In its third straight yearly drop, the latest cattle report by ...
Beef prices are surging worldwide, taking meat off the menu in steak-loving Buenos Aires and spoiling summer barbecues in the United States as Chinese imports rise and the cost of feeding cattle ...
This requires trust between the packers and feedlots though, and is under criticism from the feedlots because the amount paid to the feedlots is determined by the packers’ assessment of the meat received. Finally, live- or carcass-weight based formula pricing is most common. Other types include grid pricing and boxed beef pricing.
Iowa Beef Processors, Inc., later became IBP, Inc. Occidental Petroleum owned IBP from 1981 to 1987, and was the majority owner from 1987 to 1991. [2] [3] [a] IBP was acquired by Tyson Foods in 2001 for US$3.2 billion in cash and stock. [8] Tyson continues to use the IBP name as a brand for its commodity beef and pork products. [9]