U.S. Beef Packer Losses Reach Record Levels

U.S. beef packers are suffering record losses as the price they pay for cattle is outstripping what they earn on beef

U.S. beef packers are suffering record losses as the price they pay for cattle is outstripping what they earn on beef.

Analysts say the losses were record-large and could force leading beef producers such as Tyson Foods and JBS-USA to reduce cattle slaughter and beef production in a bid to lift beef prices.

"We expect packers to cut back kills this week and are looking for them to start trimming plant hours and a lighter Saturday kill," says analyst Bob Wilson.

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TAGS: Livestock