CHICAGO, Oct 4 (Reuters) - Top U.S. meat packer Tyson FoodsInc told hog producers in a letter late Thursday that ithas developed an alternative formula to determine the price itpays for hogs since USDA market prices have been suspended dueto the government shutdown on Oct. 1.
Tyson typically prices live hogs based on USDA AgriculturalMarketing Service data that have not been available since theshutdown. Tyson is using price data from Urner Barry, a U.S.analytical research firm closely followed by livestock packersand traders for its meat prices and data, to calculate cash hogvalues.
Top pork producer Smithfield also told hog producers earlierthis week it was adjusting how it was pricing hogs until thefederal government reopened.
- Consumer Discretionary
- government shutdown