Packer
Seeking to ease historic grocery inflation, the administration opens the doors to foreign beef, but the U.S. cattle industry says the move will hurt domestic herds. The announcement on Friday sent the futures markets lower.
The company will end operations at its Joslin, Ill., beef facility and its Eagle Mountain, Utah, case-ready facility plus it is pursuing the sale of its Pasco, Wash., beef facility.
From JBS Souderton’s $30 million value-added pivot to Tyson’s Nebraska shutdown, the processing sector is restructuring around high-efficiency plants, heavier carcasses and automated lines.
Company cites ‘continued uncertainty’ as the reason for the May 20 lockout in Fort Morgan, stressing that the $33.4 million contract offer remains fair and competitive.
As the federal government settles with Agri Stats over data-sharing, Acting Attorney General Todd Blanche and Secretary Brooke Rollins launch a high-stakes investigation into beef market concentration and potential price-fixing.
Thousands of union workers at the JBS Greeley, Colo., plant went on strike Monday calling for higher wages, safer working conditions and respect on the job.
UNL predicts closure will result in $3.28 billion in annual statewide economic losses. The analysis projects more than 7,000 jobs lost statewide, including 3,212 plant positions, along with significant reductions in labor income and state and local tax revenues.
Terrain’s Dave Weaber says placements of cattle into feedlots will continue to shrink, long-feared beef slaughter capacity reductions have arrived, and the beef cow herd hasn’t begun to expand.