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Cargill closes beef processor in Texas

The giant US agribusiness Cargill has said it is to close its beef processing unit in Plainview, Texas, because of the reduced supply of animals caused by the drought in the central United States. The plant, which employs 2,000 workers, will close as of February 1.

Cargill will preserve the plant's structure, and it could be reopened if there is a recovery in cattle supply, but it does not believe this will happen for many years. The news drove down cattle futures prices on Thursday (January 17) on the Chicago Mercantile Exchange (CME).

"Closing a large meat-processing unit is lamentable because of the laying off of competent people, affecting their families and the community in Plainview, but we were compelled to make a decision that would reduce the pressure on our beef segment caused by the restriction on the supply of animals," said the president of Cargill Beef, John Keating.

Information provided by Agência Estado

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