Some 3,800 workers at a Tyson Foods Inc (TSN.N) meat-processing plant in Kansas will be out of work after a Friday night fire that caused significant damage, but the company on Sunday said it will provide them “some guaranteed pay.”PropertyExcess & Surplus Lines
Tyson Foods spokesman Worth Sparkman said the plant would remain closed indefinitely and there were no details yet on the cause of the fire and or the extent of the damage. “It was a pretty big fire,” he said.
Independent trader Dan Norcini said the cattle market could respond negatively to news of the fire, but the impact would depend on how long the plant stays closed.
A prolonged closure could force the company to move cattle designated for slaughter to another facility, which could result in additional cost.