The impact of a record low beef herd in the US is being felt throughout the sector there.
Cattle prices soared as a result of the shortage as did beef prices in shops and some beef processors are shutting down plants.
Tyson Foods closed two facilities in mid-August with the loss of over 3,200 jobs.
The 2,500 employees at their plant in Joslin, Illinois, were informed their roles were being eliminated almost overnight.
On Friday last, US President Donald Trump indicated that in response to the high beef prices, 300,000t of ground beef will be allowed into the US tariff free for three months.
Responding to this, the National Cattlemen’s Beef Association issued a press release.
“NCBA is disappointed by the president’s statement. While America’s cattle producers share the goal of keeping groceries affordable for consumers, flooding the market with government-subsidised, below-market beef is not the way to rebuild the American cattle herd. Cattle markets have already turned sharply lower this morning, to the detriment of farmers and ranchers,” it said.
There’s a big row brewing there.
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