Tyson, Rival to Reduce U.S. Beef Output
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Tyson Foods Inc., the world’s largest meat processor, and National Beef Packing Co. will reduce beef production in the U.S. because of weakening demand and a lack of exports after a case of mad cow disease.
Four plants in Iowa, Nebraska and Idaho will suspend production for as long as five weeks beginning Monday, Springdale, Ark.-based Tyson said Thursday. A second shift will be eliminated at a facility in Washington. National Beef plans to cut production by as much as 23% at its two plants in Kansas.
Meatpackers were hurt when more than 40 nations banned U.S. beef after a December 2003 case of mad cow disease in Washington state. Tyson saw fourth-quarter profit in its beef business plunge 79% as overseas sales evaporated.
National Beef will reduce its slaughter by 10,000 to 15,000 head of cattle a week. The company normally kills 65,000 to 68,000 head a week.
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