In another sign of the times, more ag companies have announced they are making cuts to navigate the economy.
John Deere has told Iowa that it is letting around 100 people go from its Waterloo Works plant come the new year. It is the latest in several layoffs by the company. During their latest earnings report, Deere said demand is down and they will continue adjusting to remain competitive.
Butterball is also handing out pink slips. The company will close its Jonesboro, Arkansas plant, putting nearly 200 people out of work. The plant will close in early February, with production transferred to another facility. Butterball’s CEO says it was a difficult decision, and they will work with afffected employees.
Related Stories
Retail competition and improved supplies are helping offset food inflation, pushing Thanksgiving meal costs modestly lower despite higher prices for beef, eggs, and dairy.
While agriculture doesn’t predict every recession, the sector’s long history of turning down before the broader economy
The ACRE Act modestly reduces farmland borrowing costs now, with more savings possible once federal guidance clarifies which loans qualify.
Higher menu prices and tax-free tips are reshaping restaurant economics, sharply lifting server take-home pay even as diners face higher out-the-door costs.
USMEF’s Jay Theiler discusses his leadership role in representing U.S. beef and pork and provides an update on this week’s conference in Indianapolis.
Manure from a hog farm is more than just waste; it is also becoming a key renewable resource for operations.
