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CNN reports that Walmart, looking to offer high quality steaks to customers at low prices, is for the first time “working directly with cattle ranchers to create its own Angus beef supply chain.”

The private label brand name that will be used for the steak has not yet been disclosed. It is scheduled to be rolled out in stores this fall.

"This became a really important priority for the company," Scott Neal, Walmart's senior vice president of meat, tells CNN. ”Meat is center of the plate" and "drives the customer to the store," he says.

In addition, the story points out, controlling some of its beef production gives Walmart the ability to “gain an upper hand on suppliers. Owning its own beef supply could put Walmart in a stronger position when it negotiates prices with companies.” One of those companies is Tyson - at present, CNN says, Walmart represents 17 percent of its total sales.
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