Tyson Foods Inc gave its chicken suppliers two months' notice of its plan to shut a Virginia processing plant in May, raising concerns among farmers and legal experts about the company's compliance with antitrust regulations requiring it to give 90 days' notice before ending a contract.
gave its chicken suppliers two months' notice of its plan to shut a Virginia processing plant in May, raising concerns among farmers and legal experts about the company's compliance with antitrust regulations requiring it to give 90 days' notice before ending a contract.
Antitrust issues, particularly in meatpacking, have been a priority for the U.S. Department of Agriculture under President Joe Biden, who in 2021 directed federal agencies to tackle consolidation. Four companies, including Tyson, control 55% to 85% of the beef, pork, and chicken markets.shut its Glen Allen plant
Tyson spokesperson Alicia Buffer confirmed farmers received notice last week of the May 12 closing, and said Tyson intends to stop supplying them with chicks after March 28. Another farmer with a contract to supply the plant, who asked not to be named, said they may eventually have to sell their third-generation farm as the buyout offer would not cover long-term expenses like property taxes.
The USDA, which enforces the PSA, told Reuters it is "closely monitoring" Tyson's planned plant closure.Under normal circumstances, Tyson supplies farmers with chicks, while farmers assume the costs of land and chicken houses.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COIN Stock Price | Coinbase Global Inc. Stock Quote (U.S.: Nasdaq) | MarketWatchCOIN | Complete Coinbase Global Inc. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »
Apple Inc supplier Pegatron in talks to open second India factory -sourcesApple Inc's Taiwanese supplier Pegatron Corp is in talks to open a second India factory, said two sources with direct knowledge of the matter, as the U.S. tech giant's partners continue to diversify production away from China.
Read more »
Virginia inmates who dug out of jail using toothbrush captured at IHOPTwo Virginia inmates were arrested at an IHOP location on Tuesday after they escaped from their jail cell using a toothbrush just hours earlier.
Read more »
Amber Alert in Virginia canceled, 6-year-old girls found safeThe two children were allegedly picked up from school by 32-year-old Rose Lecretia Gregg despite there being an active protective order, the sheriff’s office said.
Read more »
Metallica gives vote of confidence to Virginia Tech fans who sang 'Enter Sandman' at tournament gameVirginia Tech fans received a big vote of confidence from Metallica on Monday after they went viral for singing 'Enter Sandman' to skirt NCAA rules.
Read more »
Youngkin appoints Tennessee school official as Virginia superintendentLisa Coons has been chosen to replace Jillian Balow, who resigned this month, as Virginia’s superintendent of public instruction.
Read more »