Tyson Fresh Meats is giving cattle feeders a one-time premium this week for harvested animals. The company provided the Red River Farm Network with the following statement:
As an American company supporting the agricultural backbone of this country it is imperative during this national state of emergency, we not only support our customers, but our cattle supply partners as well by ensuring the long-term sustainability of the beef business. Without the pipeline of high-quality cattle, we would not be able to deliver on meeting the needs of our customers and consumers. It is for these reasons Tyson Fresh Meats is providing a one-time premium effective for cattle harvested the week of March 23rd, in an effort to demonstrate our commitment and support of our valued cattle suppliers. This is an unprecedented time and the intent of our response is to show our support in an effort to help our supply partners weather this extraordinary situation.
The payment will be $5 per hundredweight for live cattle and $7.94 per hundredweight for dressed and grid cattle. Other packers are expected to follow suit, but so far there have been no further indications.