Chicken producers like Tyson and Pilgrim’s Pride slashed production in 2008 as feed prices went up and consumer demand for meat fell — but now as the economy recovers the demand is going up — along with prices.
“We think we’ll do even better the second half of the fiscal year as our operational performance continues to improve. We are very pleased with how our third quarter is going, and the summer grilling season is just getting started,” Tyson Chief Executive Donnie Smith said in a statement.
Marketwatch says prices for Tyson “pork jumped 15%, chicken rose 10.2%, and beef gained 8.4% over the year ago period.” Have you been seeing prices jump in the grocery stores? Or have the price hikes not been passed along to you?
Tyson Foods swings to profit as meat prices strengthen [Marketwatch]