Tyson is Closing Four Chicken Plants While Sales are Struggling

On Monday, meat processing company, Tyson Foods, announced that it would be shutting down four chicken plants. The closures are a result of declining chicken revenue. According to CNN, “The company reported earnings for the quarter ending July 1 that showed chicken revenue fell about 3.5%.”

A greater supply of chicken and plenty of alternatives have reportedly lowered prices since last year, when it hit its peak. “Market conditions in chicken are still challenged with commodity prices across most cuts remaining significantly lower compared to last year,” Tyson CEO, Donnie King, explained during an analyst call.

Earlier this year, Tyson closed one plant in Virginia and another one in Arkansas, totalling up with Monday’s announcement to make six plant closures this year.

Also, according to King, the company could be facing similar problems with beef and pork. He told analysts, “We’re evaluating everything.”