China’s Xi speaks with Trump by phone, discusses Taiwan and bilateral ties
Investing.com -- Tyson Foods plans to close one of its largest beef processing plants in Nebraska as the U.S. cattle shortage puts pressure on meatpacking companies, according to a report from the Wall Street Journal.
The Lexington, Nebraska facility employs approximately 3,000 workers and has the capacity to slaughter nearly 5,000 cattle daily, according to industry estimates.
Tyson becomes the first among the four major meatpacking companies that process 85% of U.S. beef to shut down a major facility during the current cattle supply crisis. Meatpackers including Tyson have been suffering substantial financial losses in beef processing operations due to cattle numbers on U.S. pastures falling to their lowest levels since the 1950s.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.