US Cattle Producers Have Started Rebuilding Herds, or Will Soon, Tyson Foods CEO Says
U.S. cattle producers have started rebuilding the nation's herd or are close to doing so, Tyson Foods CEO Donnie King said on Wednesday, after supplies dwindled to a 74-year low.
Tight cattle inventories have driven up beef prices for U.S. consumers and forced meatpackers, including Tyson and rivals like Cargill and JBS, to pay more for livestock to slaughter.
Farmers slashed their herds by sending more animals to slaughter instead of keeping them to reproduce following a years-long drought that reduced grazing...
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