U.S. Meat Firms Fall After White House Remarks on Consolidation
(Bloomberg) -- Stocks for meat companies are down Wednesday after the White House said consolidation in the industry was a concern.
Agriculture Secretary Tom Vilsack said in a news briefing that the government is moving to strengthen regulations and price discovery in the meat industry, and that American farmers are losing money.
Sanderson Farms Inc. dropped 1%, JBS SA declined nearly 2%, and Tyson Foods Inc. lost 0.3% in the wake of the comments.
The companies didn’t immediately respond to requests for comment.
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