Subscribe Register Login

Wednesday, April 23, 2014, 2:16 a.m.
Top Picks - Mobile App

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

  • Construction equipme

    construction equipment service technicianthe G.W. Van Keppel...
    LITTLE ROCK, AR

  • Teacher

    special ed teacher k-6, math teacher 7-12, For further info...
    NORPHLET, AR

  • Teacher

    the arkansas schoolfor the blind is seeking applicants for: ...
    LITTLE ROCK, AR

  • Buried drop operator

    buried cable operator to subcontract for Housley communicati...
    BELLA VISTA, AR

  • Driver trainees

    15 driver traineesneeded now!Become a driver forEmpire Expre...
    LITTLE ROCK, AR

Search 792 jobs >

Top Picks - Mobile App
Arkansas Online