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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Year-to-date red meat production is down 2 percent, with beef lower and pork higher.
For producers, demand is strong, but drought, disease, and costs still shape supply.
SC Ranch spans more than 7,700 acres and markets all of its beef within the state.
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.
