Tyson Foods' second-quarter net income dropped 42 percent as it dealt with additional feed costs in its chicken unit and reduced margins in its beef division.
For the three months ended March 30, Tyson earned $95 million, or 26 cents per share. That's compared with $166 million, or 44 cents per share, a year earlier.
The second quarter is traditionally the most difficult for Tyson Foods Inc. It had cautioned in February that its fiscal second quarter had been tougher than expected because of lower margins in its beef and pork divisions.
President and CEO Donnie Smith said in a statement that the chicken segment raised prices to help offset $165 million in additional feed costs. The beef unit dealt with lower margins as shoppers tended to buy chicken instead because it was cheaper, and the prepared foods unit contended with weak food service demand. In the pork division, there were times when supply and demand were not in balance due to the loss of some export markets.
Can a stable and reliable international food trade system that is resistant to political manipulation be created? The keynote speaker at the Oilseed & Grain Trade Summit said the future depends on it.
Purchase takes Cranswick into new protein category
Guide helps official establishments meet new chilling requirements that became effective October 22
Canada may impose tariffs on US products if law concerning country of origin labeling remains
Agriculture groups from Australia, New Zealand and Canada seek ambitious, comprehensive agreement through TTP talks
IPPE Market Intelligence Forum will also preview 2015 performance trends and global drivers
Takeover approved without conditions
French poultry production declined in the first quarter of 2014, yet the country’s consumption of poultry meat continues upwards
--- Thank you for your patience ----
If you have any issues logging in or any other need feel free to contact us.