Popular Cattle Market Analysts Weighs in on COVID-19
Corbitt Wall is a market analyst with DV Auction who says what’s frustrating to see this massive sell-off in cash and futures while boxed beef prices show healthy gains.
"I think what's so frustrating for your ranchers and your cattle feeders and folks and the like is they see the meat cases cleared out" said Wall. "You can't get a stick, a hamburger meat that's about like a roll of toilet paper. And the guys are frustrated because they also see their box being cut out by use skyrocketing twice a day every time they come out. And meanwhile, the cattle prices are just plummeting and it's very disgusting to watch."
Livestock organizations like the National Cattlemen’s Beef Association and U.S. Cattlemen’s Association are working with the USDA and others to stabilize cattle markets amid the COVID-19 outbreak. And they’re getting some help from members of Congress like Montana Senator Jon Tester who’s demanding Agriculture Secretary Sonny Perdue take immediate action to address this very serious issue in Rural America