Tyson Foods Plays Chicken With Supply
February 16, 2010 | 1 min to read
Tyson Foods plucked a fiscal first-quarter profit, thanks to a turnaround in the chicken market.
Springdale, Ark.-based Tyson Foods ( TSN – news – people ) said early Friday that its chicken unit continued to rebound as volume and average selling prices for poultry improved from year-ago levels.
After facing a slowdown in consumer spending, the meat-producing industry is improving on easing input costs and production cuts, which help lift prices. Tyson Foods Chief Executive Donald Smith said the amount of chicken, pork and beef on the market has declined since 2008, a trend that is expected to continue in 2010. He pointed out that the last two-year decline in protein availability in the U.S. was more than 40 years ago.
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