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Packers announce cutback in operations
— Negative per head returns finally take their toll.
Three of the four major packing companies last week took a step toward
improving profitability when they announced immediate cuts in the
processing shifts at their beef plants. Analysts had been predicting the
move for weeks as projected packer margins fell farther and farther
behind break-even prices.
Bob Price at North American Risk Management Services, Inc. said the
cutbacks were a result of a...
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