• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Saturday, June 7, 2025
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home US News US Business

Tyson Foods chairman warns ‘food supply chain is breaking’ as coronavirus forces plant closures

Loud Silence Staff by Loud Silence Staff
April 27, 2020
in US Business
0
3
SHARES
17
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

[ad_1]

A package of Tyson Foods brand grilled chicken package is arranged for a photograph in Tiskilwa, Illinois.

Daniel Acker | Bloomberg via Getty Images

Tyson Foods expects that millions of pounds of meat will disappear from the food supply as the company temporarily shutters beef, pork and chicken plants due to local coronavirus outbreaks.

Meat processors, including Tyson, Smithfield and JBS, are closing U.S. facilities after workers test positive for Covid-19. Meatpacking workers often work shoulder to shoulder for hours at a time, increasing their risk of exposure to the virus. 

Tyson placed a full-page ad in the New York Times, Washington Post and Arkansas Democrat-Gazette on Sunday addressing the plant closures. 

“The food supply chain is breaking,” Tyson Chairman John Tyson wrote.

Tyson said that a limited supply of its products will be available in grocery stores until facilities can be reopened. These temporary closures will also mean millions of livestock will be slaughtered because farmers will not be able to sell their pigs, cows and chickens to buyers who can process the meat.

The U.S. Department of Agriculture is buying $3 billion in fresh produce, dairy and meat from farmers to stabilize retail prices and reduce food waste. The agency is forecasting that 2020 beef prices will climb 1% to 2%, poultry as much as 1.5% and pork between 2% and 3%, the Associated Press reported.

The United Food and Commercial Workers International Union, which represents about 80% of beef and pork production workers, said Thursday that at least 13 packing and food processing workers have died after contracting Covid-19 and thousands more have tested positive or been exposed. 

On Sunday, the Centers for Disease Control and Prevention released guidelines for meat and poultry processing workers and employers. Recommendations include adding more stations for workers to clock in and out, providing cloth face coverings for all employees, limiting carpooling and checking temperatures before workers enter the plant. 

Bernstein downgraded Tyson’s stock on Friday, citing the uncertainty about the company’s ability to maintain production levels in the near-term. 

“Overall, we expect production disruptions to be a ~60% headwind to TSN’s pork volume for 4 weeks given the impact of plant closures and reduced production levels due to absenteeism,” analyst Alexia Howard wrote in a note to clients. “We also expect TSN to face a ~35% volume headwind in beef and a 20% headwind in chicken for 4 weeks.” 

As concerns over a meat shortage have grown in recent days, Beyond Meat had its best week of trading since going public in May, with shares closing up 41% for the week on Friday. The maker of meat alternatives also announced deals to sell its products in China at Starbucks and KFC locations last week.

Beyond’s stock, which has a market value of about $6.1 billion, fell 9% in afternoon trading on Monday after a downgrade from UBS on lower restaurant sales.

Shares of Tyson, valued at $21.7 billion, were up nearly 2%. Tyson’s stock has lost 34% since the start of the year. 

[ad_2]

This content first appear on cnbc

You might also like

Billionaire Mark Zuckerberg loses $5.9bn in a day as Facebook faces rare outage, whistleblower testimony

Global cases top 3.6 million, Trump says more deaths inevitable

Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition

Previous Post

COVID-19 Linked to Large Vessel Stroke in Young Adults

Next Post

ETS installs Vapor operator safety doors on bus fleet – Security and Safety

Loud Silence Staff

Loud Silence Staff

Related Posts

US Business

Billionaire Mark Zuckerberg loses $5.9bn in a day as Facebook faces rare outage, whistleblower testimony

by News Reporter
October 5, 2021
Global cases top 3.6 million, Trump says more deaths inevitable
US Business

Global cases top 3.6 million, Trump says more deaths inevitable

by Loud Silence Staff
May 6, 2020
Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition
US Business

Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition

by Loud Silence Staff
May 6, 2020
US Business

United Airlines service workers sue over schedule cuts after airline got federal coronavirus aid

by Loud Silence Staff
May 5, 2020
Disney reports quarterly earnings, and TikTok gains more influence
US Business

Disney reports quarterly earnings, and TikTok gains more influence

by Loud Silence Staff
May 5, 2020
Next Post
ETS installs Vapor operator safety doors on bus fleet – Security and Safety

ETS installs Vapor operator safety doors on bus fleet - Security and Safety

Recommended

Penguin Meets Up With Orangutan During Excursion In Empty San Diego Zoo

Penguin Meets Up With Orangutan During Excursion In Empty San Diego Zoo

May 1, 2020
CIA warned employees against Trump’s wonder drug

CIA warned employees against Trump’s wonder drug

April 14, 2020

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

President Mahama Unveils 24-Hour Economy Plan, Set to roll out in July
Ghana News

President Mahama Unveils 24-Hour Economy Plan, Set to roll out in July

May 28, 2025
Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly
Ghana News

Ghana’s Medical and Dental Council Clarifies Stance on Dr. Anne Sansa Daly’s Certification

May 26, 2025
Nii Armah Amarteifio Apologizes to Dr. Daly
Ghana News

Nii Armah Amarteifio Apologizes to Dr. Daly

May 24, 2025
Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly
Ghana News

Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly

May 23, 2025
Legal Notice: Demand for Retraction of Defamatory Publication
Ghana News

Legal Notice: Demand for Retraction of Defamatory Publication

May 23, 2025
Legal Notice: Demand for Retraction of Defamatory Publication
Ghana News

Legal Notice: Demand for Retraction of Defamatory Publication

May 23, 2025

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.