The fast food giant pulled a commercial that leading U.S. scientists and beef industry leaders say contained inaccurate and misleading information about cattle's contribution of greenhouse gases to the environment.
CoBank estimates meat supplies at grocery stores could shrink nearly 30% by Memorial Day, leading to prices rising by as much as 20%. Some cattle producers say they are barely hanging on due to futures prices.
Producers watch to see if retail beef demand will continue its slow decline as consumers’ freezers are now packed with meat. There’s a discussion on market manipulation and if there’s a need for an investigation.
Fears of the coronavirus continue to haunt the stock market despite the Federal Reserve’s efforts to calm it. Live cattle prices have dropped to numbers producers and traders haven’t seen in nearly a decade.
Tyson Foods Inc. delivered a mixed bag of quarterly results while retaining an upbeat global meat outlook based on China’s efforts to fill a protein gap because of African swine fever and easing trade tensions.