Tyson Foods CEO: Beef Prices Driven by Strong Demand, Constrained Production and Record Inflation
“It’s a question of basic supply and demand,” says King.
A combination of market forces, including consistently strong demand for finished beef, constrained production due to labor shortages caused by the global pandemic, and record inflation, have been driving current beef prices, Tyson Foods President & CEO Donnie King says in prepared testimony delivered to the U.S. House Agriculture Committee. The testimony was presented in advance of a hearing on Wednesday.
King makes the following points in his testimony:
- As with nearly...
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