Former Tyson Foods Waterloo, Iowa, plant managers dispute claims of how an "office pool" regarding COVID-19 was portrayed in news stories and deny it was about how many employees would contract the virus.
Meat sales - both dollar values and volume - were significantly higher in 2020. Those gains, however, came at the expense of a crippled restaurant and food service industry that may take years to recover.
Cattle and hog finishing profit margins were little changed from last week, with modest profits for cattle and losses for hogs. Beef packer margins declined again to their lowest mark since March.
Tyson Foods Inc. has agreed to settle a portion of a class action lawsuit alleging some of the nation’s major poultry companies conspired to fix broiler prices and rig bids.
Brazilian beef exporters saw an 8% increase in 2020 to 2.02 million metric tons, according to Abrafrigo, the country's beef association. China was the largest importer of Brazilian beef.
Pilgrim’s Pride Corp., the nation’s second-largest U.S. chicken processor, said it has reached a settlement to pay $75 million to a group of poultry buyers in a price-fixing lawsuit.
Packers were back to buying cattle for a full slaughter week, but their interest only seemed moderate to most feeders. Prices were mostly steady on moderate demand.
November U.S. beef exports jumped 6% higher, the largest since July 2019. Meanwhile, U.S. pork exports January-November set new annual records for both volume and value.
