Related Searches: Tea Vitamin Nutrients Ingredients paper cup packing

Food & Health Ingredients
Health & Nutrition
Processing & Packaging
Starch & Starch Derivatives

Tyson Foods to Cut Beef Prices

foodprocessing 2020-05-14
Share       

Tyson Foods is slashing wholesale prices for beef in an effort to get back on track after the disruptions of the coronavirus pandemic.

CEO Noel White told the Wall Street Journal that Tyson plans to cut beef prices up to 30% to grocery stores and restaurants for sales made this week. Beef made up more than one-third the company’s sales last year.

Beef supplies have been interrupted due to plant closures related to coronavirus infection. The USDA estimates that beef production in the second quarter of this year will fall 20% or more behind the first quarter. Meat prices have gone up as a result, with ground beef tripling in price since March and some kinds of steak doubling.

Tyson and other meatpackers have also come under criticism because, while the retail price of meat is soaring, prices paid to cattle raisers have been dropping. Tyson says it has to cope with coronavirus-related expenses besides plant closings.

E-newsletter

Subscribe to our e-newsletter for the latest food ingredients news and trends.

Tags

Recommended Products

Sealing and Coding Machine FRM980

Sealing and Coding Machine FRM980

Probiotics GM-020

Probiotics GM-020

Top

SJGLE B2B Website : 中文版 | ChineseCustomer Service: 86-400 610 1188-3 ( Mon-Fri 9: 00-18: 00 BJT)

About Us|Contact Us|Privacy Policy|Intellectual Property Statement

Copyright 2006-2023 Shanghai Sinoexpo Informa Markets International Exhibition Co Ltd (All Rights Reserved). ICP 05034851-121