The U.S Department of Agriculture will examine beef pricing after a fire at a Tyson Foods Inc. facility in Kansas sent margins to record highs, Reuters reported Aug. 28, citing Agriculture Secretary Sonny Perdue.
Cattle prices plunged as farmers worried that the plant's indefinite shutdown would delay sales of livestock. Beef prices, on the other hand, shot up as buyers for restaurants, food service companies and grocers jostled for meat.
Parts of Tyson Foods' slaughterhouse in Kansas caught fire Aug. 9. The meat processing company has said that it would rebuild the plant, although it remains closed as officials continue to assess the damage.
