In this file:
· Tyson Foods 2Q Pork Sales Volume Slides -- Commodity Comment
… pork sales fell 4.8% by volume in the three months ended April 2…
· Tyson Foods reports soaring meat prices as inflation continues
The price of Tyson beef was up 23.8%, while chicken rose 14.4% and pork jumped 10.8%.
Tyson Foods 2Q Pork Sales Volume Slides -- Commodity Comment
By Mary de Wet, Dow Jones Newswires
via MarketWatch - May 9, 2022
Tyson Foods Inc. said pork sales fell 4.8% by volume in the three months ended April 2, while beef and chicken sales edged higher.
On its second quarter:
Tyson sold more beef by volume, driven by strong global demand, although a challenging labor environment and continued supply-chain constraints partially offset those gains.
"Average sales price increased in the second quarter and the first six months of fiscal 2022 as input costs such as live cattle, labor, freight and transportation costs increased and demand for our beef products remained strong."
Beef sales volume rose 0.6% while the average sales price climbed nearly 24% in the quarter.
The company's pork sales volume fell 4.8% in the quarter, which Tyson attributed to the effects associated with a challenging labor environment.
The average sales price for pork rose about 11% "as input costs such as live hogs, labor, freight and transportation costs increased, partially offset by unfavorable mix associated with labor shortages."
The sales volume of chicken...
Tyson Foods reports soaring meat prices as inflation continues
Nathan Bomey, Axios
May 9, 2022
Meat prices continued to skyrocket in the first quarter.
Driving the news: Tyson Foods reported Monday that the average price of its products rose 17.6% in the quarter ended April 2, compared with a year earlier.
· The price of Tyson beef was up 23.8%, while chicken rose 14.4% and pork jumped 10.8%.
The big picture: The cost of labor and agricultural prices continue to fuel the spike.
· "We saw continued inflation across the business, in some instances, up 25% or more," Tyson CFO Stewart Glendinning said Monday on a conference call. "Notable examples were labor, feed ingredients, live cattle, lean hogs and freight costs."
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