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The USDA reports that beef production in 2024 is forecast to be about 3% lower than in 2023, and last year also marked the fifth straight year of a decrease in available beef cows.
Cargill Meat Solutions is a subsidiary of Cargill Inc—a multi-generational family-owned and operated, multinational agribusiness giant.Cargill was America's Largest Private Company, with revenues of US$106.30 billion in 2008 and 151,500 employees, according to Forbes.
Iowa Beef Processors, Inc., later became IBP, Inc. Occidental Petroleum owned IBP from 1981 to 1987, and was the majority owner from 1987 to 1991. [2] [3] [a] IBP was acquired by Tyson Foods in 2001 for US$3.2 billion in cash and stock. [8] Tyson continues to use the IBP name as a brand for its commodity beef and pork products. [9]
In 1924 the Simons moved the business to a new location in what is now Omaha's Old Market neighborhood and began selling their cuts of beef to local supermarkets and national chain grocery stores, hotel restaurants, and institutional customers. [4] [5] In 1929 B.A. Simon's son Lester joined the business and helped expand its distribution. [2]
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Meat prices are currently 7.5% higher than this time last year. The country's cattle inventory is shrinking and has been for a while. In its third straight yearly drop, the latest cattle report by ...