Animal Slaughtering/Processing

The rapidly spreading avian influenza outbreak in the U.S. that has led to the death of nearly 40 million birds is squeezing Hormel Foods turkey flocks, as meat prices hit their highest levels in years.The Austin, Minn.-based maker of Spam said its Jennie-O turkey brand faces an uncertain period as the bird flu outbreak is expected to continue to weigh on industrywide poultry supplies. Jennie-O Turkey Store sales volumes are expected to decline about 30% in the second half of the year due to supply gaps, HormelChief…

The Agriculture Department proposed new rules on Thursday requiring poultry companies to be more transparent about how farmers are paid, part of the Biden administration’s broader push to tackle consolidation in the meatpacking industry.The measures would require poultry processors, such as Tyson Foods Inc. and Pilgrim’s Pride Corp. , to disclose compensation information for chicken farmers who are paid under so-called tournament systems, which pit farmers…

Soon after Lizbeth Martinez set out to buy a house near her hometown of Cactus, Texas, she encountered a situation familiar to millions of Zillow-browsing Americans: few decent options.“There is nothing for sale,” Ms. Martinez said. “And, if it is, it is way out of my price range.” After months of searching, Ms. Martinez found an unlikely partner—her employer. The 21-year-old is an accounting clerk at a beef-processing plant in Cactus run by JBS USA Holdings Inc. She expects to close this summer on the…

Tyson Foods Inc. TSN 1.30% reported soaring profits as the company raised prices for beef, chicken and pork, citing higher costs. Tyson, TSN 1.30% the biggest U.S. meat processor by sales, said it increased prices for beef by an average 23.8% over the three months ended April 2, while its chicken prices increased 14.4% and 10.8% for pork. Tyson said its cost of goods sold increased by 15% over the quarter as the…