Meat Industry INSIGHTS Newsletter

980209 Three Conagra Beef Plants To Take 3-Day Shutdown

February 1, 1998

Chicago - Monfort Beef and Lamb Co, a unit of ConAgra Inc did not operate three of its four beef slaughtering and processing plants last week.

"It's three of the four Monfort beef plants that will be down Friday, Saturday and Monday," the spokeswoman, Lynn Pheres, said. "The Greeley (Colorado) plant is not."

ConAgra gave no reason for the closures, but livestock analysts said beef companies have been losing money at current beef and cattle prices.

One analyst estimated U.S. beef companies lost about $16 per head on slaughter and processing operations last week.

"They lost money in December and they lost money in November. January is going to be a red-ink month as well," said Joe Kropf, an analyst with Kropf and Love Consulting.

The Monfort plants taking the temporary shutdowns are in Grand Island, Nebraska; Garden City, Kansas; and Cactus, Texas.

Excel Co, a unit of Cargill Inc, and IBP Inc (IBP - news) said they did not plan to change beef production schedules. IBP said it would continue operating its 11 beef plants on 40-hour week schedules. Excel's production schedules were not available for its five beef plants.

This Article Compliments of...

Press Here for Info on Setting Your Own Web Site

[counter]

Meat Industry Insights News Service
P.O. Box 553
Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
Web Site: http://www.spcnetwork.com/mii