Packer
The Biden Administration unveiled a new, four-pronged action plan to aid independent meat processors, strengthen the Packers & Stockyards Act, and issue new “Product of USA” labeling rules.
The Biden Administration’s $1 billion Action Plan unveiled Monday to aid farmers, ranchers and consumers would do none of the above, according to the North American Meat Institute.
Economic advisors to the White House suggested Friday that America’s large meat packers have used their market power to drive up consumer prices while underpaying farmers resulting in a huge jump in net profits.
Tyson Foods has achieved a 96% vaccination rate for COVID-19 among its 120,000 American workers.
An overnight fire at the JBS beef facility and a temporary computer glitch at Tyson’s Dakota City facility disrupted beef packing on Monday sending futures prices sharply lower.
The senator supports legislative action because of concerns that small producers are losing money on cattle due to being unable to spot market.
An unprecedented meeting held in May among major cattle industry representatives, typically at odds, has produced plans for change and calls for answers from U.S. lawmakers. Keep up with the latest on this page.
While Tyson’s lawyers were filing a lawsuit on Monday against one of the packer’s largest cattle suppliers, the ink was still drying on the sale of one of that supplier’s feedlots to one of Tyson’s competitors.
Claiming losses of “more than $200 million” in connection with “200,000 cattle that did not exist,” Tyson asks for a court-appointed receiver to takeover Easterday Ranches in Washington state.
Tyson Foods has agreed to pay a settlement of $221.5 million in the broiler chicken antitrust civil price-fixing lawsuit, according to filings Tuesday in federal court in Chicago.