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Stock impact report

Tyson Foods unsure when tight US cattle supplies will expand, CEO says [Yahoo! Finance]

JBS S A S/ADR (JBSAY) 
NASDAQ:AMEX Investor Relations: jbss.infoinvest.com.br/?idioma=enu
Company Research Source: Yahoo! Finance
way, CEO Donnie King said on Wednesday, as tight supplies squeeze the meatpacker's beef business. Producers slashed the herd to its lowest level in decades due to high feed costs and drought in the western United States, increasing the prices Tyson must pay to buy livestock for processing. Lower costs for grains fed to cattle and improved conditions for grazing are encouraging factors for increasing the U.S. herd, though high interest rates are a headwind, King said at a BMO Global Farm to Market Conference. Tyson's beef business, its biggest segment, suffered an adjusted operating loss of $151 million in the six months to March 30, compared to income of $137 million a year earlier. Brazil's JBS SA, the world's largest meatpacker, also said on Wednesday that it continues to see reduced cattle availability in the United States and demand constrained by higher beef prices. Improvements in Tyson's chicken business are offsetting difficulties in beef, King said, after it shut si Show less Read more
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