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.
Related Stories
Tyson is still reshaping its beef footprint.
Industry leaders gather in Mexico City to strengthen trade and showcase product quality.
Federal officials are signaling a more aggressive push on beef packer concentration, but any direct market impact will depend on what the investigation actually finds.
DOJ and USDA investigate beef industry concentration, with Big Four packers under scrutiny and a major settlement announcement expected later this week.
The fifth-generation operation is managing land and cattle with a long-term focus.
