US beef sector, pinched by costs, cuts production
KNEB
Troubles in the U.S. beef industry, notably losses on beef sales, have caused two of the nation’s largest producers to cut production from now through at least the end of the year.
Tight supplies of market-ready cattle and high cattle prices combined with abundant supplies of lower-priced pork and chicken have squeezed U.S. beef companies.
No.3 producer JBS-Swift & Co. and No. 4 producer National Beef Packing Co. said on Wednesday they will cut production.
Tyson Foods Inc. < TSN.N >, the No. 1 U.S. beef producer, and Cargill Inc., the No. 2 beef producer, said they have been operating at reduced levels, citing poor market conditions.
The Beef Blog 