What does Tyson’s shutdown of two US beef plants mean for grocery costs?

Meat producer closes facilities in Utah and Iowa as beef prices rise for consumers amid historic cattle shortageTyson Foods, the largest meatpacking company in the US, announced last week that it is closing two of its facilities in Iowa and Utah and selling a beef facility in Washington state, and will lay off hundreds of workers as the supply of cattle hits a 75-year low.The historic cattle shortage has been driven by a multi-year drought, rising costs and severe economic pressures, including consolidation among cattle ranchers. Beef prices have soared over the last year due to the shortage, though economists said the Tyson plant closures likely won’t hit consumer prices so hard. Continue reading...