Tyson Foods announced plans Friday to close one of its largest beef production plants located in Nebraska in January and increase operations at other plants as the national beef market dips to its lowest level in nearly 75 years.
The global meat company also plans to downgrade its Amarillo, Texas, beef facility to a single, full-capacity shift and increase production at other plants to optimize volume.
Tyson’s Lexington, Nebraska, facility was capable of processing thousands of cattle daily, according to the industry’s Cattle Report.
“The decision comes amid historically tight U.S. cattle supplies, which have dropped to their lowest levels in nearly 75 years, creating significant cost pressures for meatpackers,” the Cattle Report stated….