Tyson Foods increases meat prices as costs increase


Tyson Foods Inc. reported a jump in sales after raising prices for beef, chicken and pork sharply, citing rising costs the company said would likely persist.

The Arkansas-based meat giant raised prices across all of its major divisions when executives said Tyson’s cattle costs rose one-fifth year-on-year in the quarter ended Oct. 2. Tyson’s logistics expenses rose by around 30%, they said, while the company has also paid more for ingredients and packaging materials.

Source link

Back to top button