U.S. Agriculture Secretary Sonny Perdue ordered an investigation on Wednesday in...
FILE PHOTO: The exterior of the Tyson Fresh Meats processing plant is seen three days after a fire heavily damaged the facility in the Finney County town of Holcomb, Kansas, U.S. August 12, 2019. REUTERS/Adam Shrimplin/File Photo
Cattle prices have tanked because the fire temporarily eliminated a key buyer of livestock. Farmers have worried that meat packers such as Tyson, Cargill Inc [CARG.UL] and JBS USA [JBS.UL] would take advantage of the situation by dropping their offering prices. Profit margins for the packers are above $400 per head of cattle slaughtered, up from around $150 before the fire and well above the previous record of $308, according to Denver-based livestock marketing advisory service HedgersEdge.com.
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