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Stock impact report

Cattle industry expected to lose billions amid coronavirus pandemic: 'We are suffering right now' [FOX News]

Tyson Foods, Inc. (TSN) 
Last tyson foods, inc. earnings: 2/6 07:30 am Check Earnings Report
Company Research Source: FOX News
closeVideoCOVID-19 could hit beef industry with loss of billionsThe National Cattlemen's Beef Association is predicting a $13.6-billion loss for ranchers in the industry.AUSTIN, Texas --President Trump“We are suffering right now I can tell you, especially on the production side,” Bob McKnight, president of the Texas and Southwestern Cattle Raisers Association (TSCRA), said. “All through the industry, it is a very difficult time for us right now.”The TSCRA has represented over 17,000beef cattle producers,Beef producers are expected to lose billions as the coronavirus pandemic continues to strain the industry.(Fox News)The association explained there was “no beef shortage,” but there has been a bottleneck between the producers and the processing plants, delaying the process of getting the product to the shelves.“It is just the economics of that bottleneck going into the processing facilities and we just can’t get enough product through the pipeline so to speak,” McKnight said. “It has t Show less Read more
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