U.S. agribusiness conglomerate Cargill Inc CARG.UL said it will close its Lockney, Texas, feedlot next summer due to shrinking supplies of cattle and high feed costs.
The pending closure comes months after the company shut one of its Texas beef packing plants also because of fewer cattle.
"Due to the drought-depleted beef cattle supply in the region, and after a careful examination of the region's overall beef production situation, Cargill determined that it could no longer justify the operation of its Lockney, Texas, feedlot," Cargill spokesman Mike Martin said on Thursday.
The feedlot will be closed "at a date to be determined in summer 2014," he said.
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