Largest US meat supplier closing plant as industry reckons with Trump [View all]

Tyson, America’s biggest meat supplier, plans to shutter one of its largest beef processing plants as the industry continues to struggle with low cattle supplies and political pressure from Washington.

The company reportedly plans to lay off more than 3,200 people at its Lexington, Nebraska, plant, by January 20, while increasing production elsewhere.

Tyson, the first of the big four major meat processors to close a plant in response to the shortage, said the decision was meant to “right-size its beef business and position it for long-term success” during the ongoing supply crunch.

Thanks to a combination of drought, pandemic, rising costs, and pests, U.S. pastures have the lowest number of cattle since the 1950s. Demand, meanwhile, has remained steady, pushing livestock prices to an all-time high.

https://www.msn.com/en-us/money/companies/largest-us-meat-supplier-closing-plant-as-industry-reckons-with-trump/ar-AA1R47bv