Friday, August 21
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Topic: agriculture

Cattle in a feedlot near Rocky Ford, Colorado
New Economy
Friday, 8/21, 09:57 AM

Tyson is closing beef plants because there are not enough cattle, and that is why beef stays expensive

  • Tyson is shutting its Joslin, Illinois beef plant and its Eagle Mountain, Utah facility and selling a third in Washington state, blaming what it calls one of the most historic cattle shortages the country has experienced.
  • The US herd stood at 86.2 million head on January 1, the smallest since 1951.
  • Closing plants will not bring beef prices down, and understanding why explains the whole market.

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