August 28, 2019 / 6:58 PM / 21 days ago

USDA to probe beef packing margins after Tyson Foods slaughterhouse fire

CHICAGO, Aug 28 (Reuters) - U.S. Agriculture Secretary Sonny Perdue ordered an investigation into beef pricing margins on Wednesday after a recent fire at a Tyson Foods Inc slaughterhouse in Kansas pushed margins to record highs.

The indefinite shutdown of the plant tanked cattle prices as farmers worried they would not be able to sell their livestock in a timely manner. At the same time, beef prices climbed as buyers for restaurants, food service companies and grocery chains went scrambling for meat. (Reporting by Tom Polansek Editing by Chizu Nomiyama)

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