Important Takeaways:

• Last week the giant American chicken processor, Tyson Foods, announced it was closing four processing plants located in North Little Rock, Arkansas, Corydon, Indiana, Dexter, Missouri and Noel, Missouri.
• It had already closed two other plants in Arkansas and Virginia earlier this year, cutting 1,700 workers. The latest four plants will affect approximately an additional 2,000 workers as well as the businesses in the small towns they are located in and which have relied on Tyson as their major source of jobs for residents as well as work for local companies.
• The chicken farmers say this announcement caught them completely by surprise.
• A business loans officer with a bank providing financial backing for many of these farmers said his phone has been ringing off the hook as soon as Tyson made the announcement. He also commented that this will affect the borrowing capability of farmers who haven’t lost their contracts. Tyson could easily cut them anytime it wanted as well.

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