Economic News

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[Bessent predicted 3% GDP growth earlier this week, now it’s 4%? Most economists have been predicting a range of 1.9% - 2.5% GDP growth for 2025, but it has been harder to predict because tariff and other economic policies have made the quarterly results very lumpy]
 
It was not 3% when Trump took office. I guess maybe the headline inflation was almost that. The PCE and the core numbers were both south of 3%.
 
nycfan said:
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US cattle shortage drives Tyson Foods to slash operations​

Meat supplier to cut nearly 5,000 jobs at plants in Nebraska and Texas


“… Tyson's decision to trim its beef network — a business that accounts for about 40% of the company's $54 billion of fiscal year 2025 sales — comes as U.S. cattle herds are at a 75-year low, the USDA said. The lack of cattle has pushed beef prices to surpass $6 per pound as of September, according to a Federal Reserve Bank of St. Louis report.

Tyson Foods President and CEO Donnie King said in an earnings call last month that increased cattle costs have outpaced higher sales with the company seeking to reduce costs by "prioritizing efficiency" and "introducing innovative products."…”
 
nycfan said:

US cattle shortage drives Tyson Foods to slash operations​

Meat supplier to cut nearly 5,000 jobs at plants in Nebraska and Texas


“… Tyson's decision to trim its beef network — a business that accounts for about 40% of the company's $54 billion of fiscal year 2025 sales — comes as U.S. cattle herds are at a 75-year low, the USDA said. The lack of cattle has pushed beef prices to surpass $6 per pound as of September, according to a Federal Reserve Bank of St. Louis report.

Tyson Foods President and CEO Donnie King said in an earnings call last month that increased cattle costs have outpaced higher sales with the company seeking to reduce costs by "prioritizing efficiency" and "introducing innovative products."…”
Click to expand...
“… Tyson Foods could lose upward of $600 million in its beef business in fiscal year 2026 atop the $720 million loss it has already occurred in the past two years due to the lack of cattle supply. The company said it plans the changes in its operations to help address the current market dynamics.

A flesh-eating pest, called the New World screwworm, has shut down the U.S.-Mexico border for cattle, bison and horses to keep it at bay, posing a challenge in importing cattle, according to an October report from the Farm Bureau. Historically, the United States has imported more than 1 million head of cattle from Mexico, the group said.…”
 
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