On 21 November, Tyson Foods told workers at its beef processing plant in Lexington, Nebraska, at the end of the first shift, that they no longer had jobs. Tyson said it was âright sizing its beef businessâ and would increase production at other facilities to meet demand by âoptimizing volumes across our network.â
Tyson is one of four dominant beef producersâalong with JBS, Cargill, and National Beefâthat collectively control 85% of the industry. Tyson reported profits up 6.5% over the previous year, and later proceeded with the Lexington closure; its last day of full operation was January 20. About 300 employees were temporarily retained for closure-related duties, but most were later laid off.
Major buyers and industry participants, including McDonaldâs and others, have filed lawsuits alleging collusion and price-gouging; the packers deny wrongdoing. Trump directed the Department of Justice to open an inquiry into meatpacking companies, and on 6 December signed an executive order creating DOJ and FTC taskforces to investigate price-fixing.