November 3, 2024

AndronETalksNews

AndronETalksNews

Tyson Foods Soars To Record After Hiking Beef, Chicken And Pork Prices By Double Digits

Zero Hedge

By Tyler Durden – February 7, 2022

Stock of Tyson Foods, the world’s second largest processor and marketer of chicken, beef, and pork after Brazil’s JBS S.A., is soaring 9%, hitting an all time high and is one of the S&P’s best companies this morning…

… after the company reported blowout earnings (thanks to passing on surging food prices) and announced that it is raising prices even more as it grapples with a tight labor market and smaller livestock herds. According to the report, beef prices jumped by 32% in the quarter, with chicken up ~20% and pork 13%.

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