Chicago (Reuters) — The return of drought in U.S. cattle-producing areas is delaying ranchers’ plans to expand production after the nation’s herd shrank to its smallest level in seven decades, farmers and analysts said. Tight cattle supplies are squeezing meatpackers, including Tyson Foods, which reports quarterly earnings on Tuesday, and consumers facing high beef prices. […] Read more
Tag Archives meatpackers
McDonald’s sues major beef producers in U.S. price-fixing lawsuit
(Reuters) - McDonald’s has sued JBS, Tyson Foods and other leading meat processing and packing companies for allegedly conspiring for years to limit beef supplies, boosting their profits while causing the fast food giant to pay artificially higher prices. McDonald’s said in a lawsuit filed on Friday in Brooklyn federal court that the meatpackers, also including Cargill and National […] Read more
