finance.yahoo.com

Tyson Cuts 3,200 Jobs and Closes Beef Plants as Herds Hit 1950s Lows

Tyson Foods logoTyson Foods
Sig2.35Sen-2.65Env0.00Soc-3.25Gov0.00

Cattle herds are at their lowest levels since the 1950s, intensifying pressure on the U.S. beef market. Tyson Foods said it would shutter a plant in Joslin, Illinois and sell another beef facility in Pasco, Washington, as expanding herds is expected to take years and supply rebounds could help lower beef prices.

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