US packers complain of losing money - leatherbiz: Leading news site fo Leatherbiz

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US packers complain of losing money

12/12/2011
Reports in the US say beef packers there are making “record losses” because of a big difference between what they can earn from beef and hides and what they are having to pay livestock farmers for cattle.

Analysts say the likely reaction is a reduction in slaughter to try to push beef prices higher, which would have a knock-on effect on the price of hides too.

Reuters quoted some Chicago-based beef industry analysts as saying packers are currently losing more than $100 per head on cattle, the worst return in more than 20 years.


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