00:00It's Benzinga bringing Wall Street to Main Street.
00:02Thousands of union workers at a JBS beef plant in Greeley, Colorado agreed to return to work,
00:07ending a three-week strike that began March 16th, according to the Wall Street Journal.
00:12The union representing 3,800 workers said JBS agreed to resume contract negotiations on April
00:189th and 10th. Workers will return to shifts starting Monday. The plant processes about
00:226,000 cattle per day, or about 5% of U.S. capacity. The union reached a long-term contract
00:28covering about 26,000 workers with a new pension plan. However, the Greeley local opted out,
00:33citing wage increases that do not keep pace with inflation. JBS said its proposals are fair and
00:38unchanged, and workers are returning without any new agreement. The strike occurred as beef prices
00:43reached records and cattle supply fell to a 75-year low, raising costs for meat packers.
00:47For all things money, visit Benzinga.com.
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