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.
Farmers across the country are being asked to dump their milk, as food service demand crumbled rapidly due to COVID-19. Still, farmers are frustrated that consumers can't buy as much milk as they want right now.
Damage to the dairy sector has increased with raw milk dumping increasing in Wisconsin and elsewhere. Pro Farmer's Jim Wiesemeyer expects USDA to announce some form of assistance for dairy producers next week.