Latest News Updates From Ilena Peng

The world’s largest meat supplier also said it is closing a value-added facility in Memphis, Tenn., which packages various proteins.

Consumers on average paid $7.064 for a pound of ground beef in May, slightly higher than the previous month but up 13% from a year earlier. 

The Department of Agriculture confirmed an additional three cases of New World screwworm, bringing the total number of detections in the U.S. to five.

The agency is implementing quarantines, movement controls and surveillance in a 12-mile zone around the detection, and has also expedited the release of sterile flies to prevent the pest’s spread.

Jeff Schomburger, who has spent a decade on Tyson’s board, will become president and CEO on Oct. 4, succeeding Donnie King.

One of the biggest impacts on the industry from the war is higher transportation costs. The cost of retail diesel touched record seasonal levels in mid-April.

While Tyson’s adjusted earnings for the quarter beat analyst estimates, the company now expects its beef segment to lose $350 million to $500 million in 2026.

Tyson Foods, in a move meant to turn around the beef segment, said it would close a Nebraska beef plant and reduced a Texas facility to a single shift. The company maintained its outlook for the year.

Cattle placed in U.S. feedlots, where animals are fed until ready to be slaughtered, are expected to have dropped in November to the lowest levels for the month since 2015, Bloomberg reports.

Cattle prices won’t rise as much as previously expected in 2026, as the closure of a Tyson Foods plant is seen loosening competition for scarce U.S. supplies.