Beef prices have been on a run lately, and processors are feeling the pinch. To cut costs and recover profits, many are turning to poultry.
Tyson estimates they will see earnings go up around $100 million this year, and the gains are driven by a positive view on the chicken business. Company leaders say it comes as consumers look for cheaper alternatives to beef.
They also say grains have been readily available this year, which helps keep feed costs manageable.
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Dr. Derrell Peel says long-term price relief will depend more on rebuilding the U.S. cattle herd than increasing imports.
The Iowa cattle operation was recognized for its focus on soil health and sustainable farming practices.
The latest Meat Demand Monitor shows strong retail demand for beef products like ribeye steaks and ground beef.
Egg production accounted for much of the increase.
