All articles tagged with #cattle shortage
Tyson Foods will close its Eagle Mountain, Utah case-ready meat facility by Oct. 12, eliminating 723 jobs as the company restructures in response to a historic cattle shortage; officials say they will support affected workers and help them transition to open roles at other plants, with Tyson also closing a plant in Illinois and exploring the sale of a Washington state facility.
Beef prices are rising due to a persistent cattle shortage, even as demand remains mixed, squeezing Tyson Foods’ profits. Tyson cut its profit outlook after reporting a $707 million beef-division loss over the last nine months, with beef volumes down 15.9% and prices charged up 12.1% in the latest quarter. The U.S. cattle herd remains near all-time lows, though it’s starting to edge higher, and a potential reopening of Mexican cattle imports could help later, but won’t immediately close the gap in beef losses.
Despite Donald Trump's past promotion of beef products, he is unlikely to alleviate the current challenges facing the US beef industry. A significant cattle shortage, exacerbated by years of low prices, droughts, and high costs, has led to increased beef prices and reduced profits for meat processors. The situation may worsen with potential new tariffs and immigration reforms further impacting supply.