Tyson Swings to a Profit as Chicken Business Rebounds
Tyson Foods, the largest U.S. meat supplier, said improving chicken profitability helped offset losses in its beef business as a dwindling U.S. cattle supply continues to create headaches for meat suppliers. Arkansas-based Tyson, a bellwether for the American meat industry, said that lower costs and improved efficiency helped buoy its recovering chicken business for the quarter ended March 30. Chicken processors are now benefiting from falling grain prices and more consumers choosing chicken as beef prices tick up.
The Wall Street Journal
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