Subscribe Register Login

Wednesday, April 23, 2014, 2:48 a.m.
Top Picks - Capture Arkansas

Tyson falls after COO says margins shrinking in beef, pork units

By Bloomberg News

This article was published February 26, 2013 at 10:08 a.m.

Tyson Foods Inc. shares slumped the most in more than six months after the largest U.S. meat processor said margins narrowed in its beef and pork units.

Tyson fell 3.5 percent to $22.45 at 9:55 a.m. Earlier it declined as much as 6.3 percent, the most intraday since Aug. 6.

Wholesale beef prices are coming down from their highest level in at least eight years, while the most-active cattle futures in Chicago have climbed 14 percent in the past 10 months as the worst U.S. drought since the 1930s led the cattle herd to shrink.

“Margins have been compressed throughout the past month as the value of beef has fallen more than the price of cattle,” James Lochner, chief operating officer of Springdale-based Tyson, said at the Goldman Sachs 17th Annual Agribusiness Conference on Tuesday.

Margins for Tyson’s pork business also narrowed in the current quarter, he said.

The company expects “strong performance” for the chicken business, especially in the second half of the fiscal year that ends in September, according to a statement Tuesday.

Comments on: Tyson falls after COO says margins shrinking in beef, pork units

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Lpn

    ARcare is accepting applications for an position in Mayflow...
    LITTLE ROCK, AR

  • Groundskeeper

    For 154 unit apartment complex located in NLR. Approx. 30 h...
    NORTH LITTLE ROCK, AR

  • Executive assistant

    Do you like taking control of complex & changing situations ...
    LITTLE ROCK, AR

  • Legal assistant

    legal assistantfor law firm in Springdale. Do you like a fas...
    SPRINGDALE, AR

  • K-12 counselor

    The Highland School District is taking applications for a . ...
    HARDY, AR

Search 792 jobs >

Top Picks - Capture Arkansas
Arkansas Online