Plant closing

[Roadapple]

Just seen on the news where Cargill is closing the Plainville, Tx. plant due to a shortage of cattle caused by the drought and high feed costs.

 

[cross_7]

“Given the over-capacity that exists with four major beef plants in the Texas Panhandle and a dwindling supply of cattle in the region, idling Plainview will allow Cargill to operate its other beef plants in Texas, Colorado and Kansas more consistently on a five-day-per-week basis to meet our customers’ requirements, while helping us maintain our position in the U.S. beef sector,” explained Keating. “Our long-term commitment to U.S. beef production is unwavering. Over the past 10 years we’ve invested more than $766 million in our U.S. beef plants to ensure they remain best in class in the industry.”

 

[kenny thomas]

I also posted about this, but doesnt it seem if they are closing because of the shortage of cattle that the price of fed cattle and feeders would go up instead of down because of the closing?

 

[chippie]

My family was talking about this yesterday. It is so sad. It is going to kill the town. The majority of the residents work there. About 2000 people will be losing their job.

From what my daughter (who has friends in the area) said, they are closing because they are not processing the numbers like they used to. I found this online.

http://bcove.me/pzpuxeia

in case above link does not work:

http://lubbockonline.com/multimedia...-plainview-beef-processing-plant#.UPwDdids6Zg