Tyson Closes Beef Processing Plant Due to Lack of Cattle

“We believe the move to cease beef operations at Denison will put the rest of our beef business in a better position for future success”, Stouffer said in the release. The company said it will offer financial incentives to hourly workers who are eligible for openings at a separate plant in Nebraska. Cargill Inc, one of the country’s largest beef processors, on July 30 announced the closure of its Milwaukee, Wisconsin, beef-processing plant due to cattle shortages. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Tyson John H, director officer (Chairman of the Board) of Tyson Foods Inc, unloaded 335,550 shares at an average price of $41.3 on August 5, 2015. Tyson Foods Inc. has six other beef plants in the U.S. He added that the company has to adapt to the “realities of the beef business” for them to continue to be successful. Tyson Foods said its beef business lost money in its latest fiscal quarter because cattle costs were up and supplies decreased, which meant it couldn’t sell as much beef. “Right now cattle producers are trying to regrow their herd”, he said. Officials are working to help Denison cope with the closing of a Tyson Foods plant there that employed about 400 people. Shuttering the beef slaughtering facility was hard, said Steve Stouffer, president of Tyson Fresh Meats. A rival beef packer opened in Dennison in November 2014 with a, 1,100 cattle per-day slaughter capacity. The Crawford County Beef processing plant is the second largest employer in Denison, but Friday, 400 people learned they no longer have a job there. “My guess would be that a lot of the cattle that were going to Denison will probably be going to Dakota City”, Reemstma says...more