Speaking at the BMO Global Farm to Market Conference in New York, Tyson Foods CEO Donnie King said the U.S. cattle industry appears to be in the early stages of a rebuilding cycle, with the national herd size hovering near 70-year lows.
In response to alarmingly low herd levels pushing cattle futures in Chicago to record highs, King noted Tyson plans to ramp up chicken production. Chicken is viewed as an affordable alternative to beef, making it increasingly attractive to cost-conscious consumers.
"We've got more opportunity to grow," King told industry insiders and investors at the market conference, adding the company is looking to work its assets "a little harder."
King said Tyson will expand chicken production to meet growing demand as a more affordable alternative to beef.
The cattle shortage, plus new developments this week of U.S. Agriculture Secretary Brooke Rollins shutting down live cattle, horse, and bison imports from southern border land ports, sent cattle futures in Chicago to fresh record highs earlier this week.
beef shortage from what exactly? and also if they killed supposedly millions of chickens during the bird flu where are the extra chicken coming from?
[ + ] CoronaHoax
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And gay
[ + ] big_fat_dangus
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[ + ] HonkyMcNiggerSpic
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[ + ] observation1
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