Tyson Foods is closing a beef production plant in Nebraska and reducing operations at another due to industry challenges amid tight cattle supply and high prices. The company expects losses of up to $600 million this fiscal year, impacting up to 5,000 workers. President Trump’s tariff cuts on food products also influenced the decision. The company reported a $426 million loss for its beef business in the last fiscal year, with plans to decrease domestic production by 2% in 2026. CEO Donnie King cited low cattle supplies, drought, and other factors for market challenges. This comes after an investigation was launched into meatpacking companies for price inflation.

Read more at Yahoo Finance: Tyson Foods to close Nebraska plant as it faces $600 million loss in beef business