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U.S. Plans Aid for Smaller Meatpackers; Air Products Scraps Bayou Hydrogen Project; Lunar Logistics By Mark R. Long | WSJ Logistics Report
The Trump administration is prepping a financial lifeline for smaller meatpackers struggling with dwindling cattle supplies, which have sent beef prices surging. The Wall Street Journal's Patrick Thomas writes that the U.S. Agriculture Department plans to pledge up to $500 million in payments
for small and midsize meatpacking companies.
The aim is to provide a financial safety net for smaller slaughterhouses at a time when meat processors are losing an estimated $300 per head of cattle. The funding excludes the four largest beef processors in the U.S.: Tyson Foods, JBS, Cargill and National Beef, which is owned by Brazil-based MBRF Global Foods. Those companies together process roughly 85% of U.S. beef.
Beef industry officials have said high prices are the new normal, with the U.S. cattle herd at its lowest level since 1951 and consumer demand for beef staying strong. Ranchers, who are enjoying their strongest profits in decades, have been reluctant to increase the size of their herds.
Cal-Maine Foods, Hickman's Egg Ranch and Versova agreed to settle claims of market manipulation
by donating over 50 million eggs to food banks and paying $3.3 million to states. (WSJ) CONTENT FROM: PENSKE Gain Intel. Gain Ground with Penske.
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Energy
Air Products & Chemicals said it would abandon a plan to build a low-carbon hydrogen plant in Louisiana, writing off as much as $2.9 billion , the WSJ's Ed Ballard reports.
The plan, unveiled in 2021, was to extract hydrogen from natural gas, capture the carbon-dioxide emissions and sequester them below a lake. But the project ran into environmental objections, cost overruns and a dearth of buyers . Hydrogen could in theory replace fossil fuels in various applications, from steelmaking to ship fuel, but it is too expensive to take off without hefty subsidies.
The company is proceeding with a longstanding low-carbon venture at Neom, Saudi Arabia's desert megaproject, where it is working to complete a deal to supply ammonia to fertilizer maker Yara International.
Space Logistics
NASA awarded contracts to Firefly Aerospace, Intuitive Machines and Astrobotic to ferry an identical set of payloads to the lunar surface
by the end of 2028. All three have attempted or conducted cargo missions to the moon before, with mixed results.
The devices will give the agency new data about the moon's environment and landing hazards, as well as set location markers that could be used during future missions.
Astrobotic, which has agreed to be taken over by Voyager Technologies, won two flights-valued at roughly $298 million-carrying the NASA payloads to the moon. Firefly and Intuitive secured one mission each, valued at $144 million and $148 million, respectively.
Number of the Day In Other News The Conference Board's consumer confidence index rose
to 91.2 in June from 90.6 in May, driven by moderating oil prices. (WSJ) The S&P Cotality Case-Shiller National Home Price Index rose 0.8% in the 12 months through April , up from 0.7% in March. (WSJ) Canada's economy is on track for growth
in the second quarter, with April's GDP rising 0.5% and May showing a 0.1% uptick. (WSJ) Inflation in Germany, France and Italy cooled more than expected
in June, driven by falling energy costs amid easing U.S.-Iran tensions. (WSJ) Ford Motor is recalling over 740,000 vehicles
from 2018-2021 due to a transmission and parking system issue, federal regulators said. (WSJ) Taiwanese authorities escalated a probe
into the unauthorized diversion of Super Micro Computer AI servers to China. (WSJ) The Port of Brownsville has deepened its shipping channels
to allow the Texas Gulf Coast port to handle larger vessels carrying liquid and bulk commodities. (Journal of Commerce) U.S. tariff refunds will boost net profit at Japanese corporations
by $2.5 billion to $3 billion, according to Nomura Securities estimates. (Nikkei Asia) U.S. Customs and Border Protection is expanding access to its tariff-refund portal
as the Trump administration fights a court order requiring universal refunds on duties ruled illegal by the Supreme Court. (SupplyChainDive) About Us
Mark R. Long is editor of WSJ Logistics Report. Reach him at [mark.long@wsj.com]. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long , Liz Young and Paul Berger .
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
July 01, 2026 07:02 ET (11:02 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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