Beef prices have been on a run lately, and processors are feeling the pinch. To cut costs and recover profits, many are turning to poultry.
Tyson estimates they will see earnings go up around $100 million this year, and the gains are driven by a positive view on the chicken business. Company leaders say it comes as consumers look for cheaper alternatives to beef.
They also say grains have been readily available this year, which helps keep feed costs manageable.
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Tight cattle supplies should keep beef prices supported, while dairy, pork, and poultry are poised for greater production growth.
China’s pledge is supportive, but producers need confirmed sales and shipments before counting it as stronger export demand.
Cattle producers met with lawmakers to discuss the issues continuing to impact ranchers across the country.
The Meat Institute says meat sales reached a record $112 billion last year as protein demand remained strong nationwide.
The Perrier family says maintaining herd quality has helped keep the operation strong.
The lockout has not yet signaled a major disruption in the cattle market, but processing reliability remains important in a tight beef supply chain.
