Relief from high beef prices may depend on something that can’t be fixed overnight: rebuilding America’s shrinking cattle herd.
America’s ranchers are facing their smallest cattle herd in 75 years, a shortage now rippling from pastures to some of the nation’s largest meatpackers.
Tyson Foods announced last week that it will close beef facilities in Illinois and Utah and pursue the sale of another in Washington as it reshapes its beef business amid what the company called one of the most historic cattle shortages the country has ever experienced. Tyson said recent USDA data suggest supply constraints are likely to persist.
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