Return of US Drought Delays Cattle-Herd Rebuilding, Hurting Tyson Foods

The return of drought in U.S. cattle-producing areas is delaying ranchers' plans to expand production after the nation's herd shrank to its smallest level in seven decades, farmers and analysts said.

Tight cattle supplies are squeezing meatpackers, including Tyson Foods, which reports quarterly earnings on Tuesday, and consumers facing high beef prices. Meat producers had hoped rains would encourage ranchers to begin rebuilding herds in 2024 after years of drought burned up pastures and forced farmers to send more cows to slaughter.

Dryness has instead worsened over the past two months in another blow to processors that must pay up to buy limited cattle supplies...

 

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