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-0.0129565083281925 -0.0152683528685997 -0.0266810610734114 0.000616903146206142 0.00577267119062315 0.00323874151758164 0.0140345465761875 0.0138803207896361
Stock impact report

Tyson Foods beats quarterly profit estimates on chicken demand [BNN Bloomberg (Canada)]

Tyson Foods, Inc. (TSN) 
Last tyson foods, inc. earnings: 2/6 07:30 am Check Earnings Report
Company Research Source: BNN Bloomberg
Beef prices have climbed after ranchers slashed the size of the U.S. cattle herd due to a persistent drought that burned up pastures and hiked feeding costs, prompting some consumers to eat more lower-cost chicken instead. The herd shrank to a 75-year low as of Jan. 1, the U.S. Department of Agriculture said on Friday. Although meatpackers benefit from rising beef prices, they have paid increased costs to buy cattle to slaughter. Tyson said its cattle costs climbed about $850 million in the quarter that ended on Dec. 27, compared to a year earlier. The Arkansas-based company's net sales rose 5.1 per cent to US$14.31 billion in the first quarter, beating the average analyst estimate of $14.09 billion. Its adjusted earnings per share of 97 cents topped expectations of 94 cents. Shares were down slightly in premarket trading. Sales in Tyson's chicken unit rose 3.7 per cent for the quarter, though the segment's adjusted operating income slipped to $459 million from $471 million Show less Read more
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