DES MOINES, Iowa (AP) – Frustrated with persistently low prices, ranchers and others in the beef industry are moving to reverse a long trend of consolidation and planning to open new slaughterhouses.
The new plants typically cost more than $300 million, but they still will be much smaller than those owned by the four meat company giants that slaughter over 80% of the nation’s cattle. That has led to some skepticism about whether the new independent plants can succeed.
David Briggs is the CEO of a proposed plant in western Iowa. He says acknowledges the tough odds but says cattle people are risk takers.
© 2022 Associated Press. All Rights Reserved. Material may not be redistributed.