Tyson Foods, parent company of IBP, temporarily closed their slaughter facilities at Denison Iowa and Boise Idaho on January 10. In addition, Tyson said that they will also temporarily halt their second shift at their slaughter plant in Pasco, Washington. They are also temporarily shutting processing plants in West Point and Norfolk Nebraska.
IBP are initially planning on the cut back to last approximately three to five weeks and possibly longer. Estimates are that the overall reduction will amount to about 25-30,000 head per week, although it is not clear if other IBP plants will make up the difference. Given the losses incurred at current live prices, this is doubtful however. John Tyson, president said that they have been running at less than 75% of capacity for the past two months.
