The report from the Labor Department on Wednesday added to a mild increase in producer prices in July in suggesting that inflation was firmly back on a downward trend. That should allow the U.S. central bank to focus more on the labor market amid growing concerns of a sharp slowdown.
Tyson Foods surpassed Wall Street expectations for third-quarter revenue and profit, indicating that demand was rebounding for its meat products, while lower grain prices reduced costs for animal feed.
Top Federal Reserve officials said on Wednesday the U.S. central bank is “closer” to cutting interest rates given inflation’s improved trajectory and a labor market in better balance, remarks that set the stage for a first reduction in borrowing costs in September.
The company has been cutting back on meat purchases and has made efforts to return to profitability by shuttering chicken, beef and pork plants, as well as laying off corporate employees.
June 6 (Reuters) - The ongoing U.S. outbreak of avian flu in dairy cattle reached Minnesota on Thursday as the state announced its first infected herd.
JBS said on Wednesday that Beijing blocked U.S. beef shipments from the company’s plant in Greeley, Colorado, because traces of the feed additive ractopamine were identified in beef destined for China.
BEIJING, May 18 (Reuters) - Cases of bird flu have been confirmed among wild fowl in western China, the agriculture ministry said on Saturday, as concerns grow over a U.S. outbreak infecting cattle herds.
No H5N1 flu virus was found after cooking ground beef to medium to well done, USDA said in a briefing on Thursday after conducting a study as it addresses concerns over an outbreak of the disease in dairy cattle.
