U.S. beef packer losses reach record levels

U.S. beef packers are making record losses as the price they pay for cattle is outstripping what they earn on beef, private data showed on Friday. Analysts said the losses were record large and could force leading beef producers such as Tyson Foods Inc and JBS USA, a unit of Brazilian company JBS SA, to reduce cattle slaughter and beef production in a bid to lift beef prices. Read more at Reuters.com >>>