Livestock Farming

The Agriculture Department proposed new rules on Thursday requiring poultry companies to be more transparent about how farmers are paid, part of the Biden administration’s broader push to tackle consolidation in the meatpacking industry.The measures would require poultry processors, such as Tyson Foods Inc. and Pilgrim’s Pride Corp. , to disclose compensation information for chicken farmers who are paid under so-called tournament systems, which pit farmers…

Tyson Foods Inc. TSN 1.30% reported soaring profits as the company raised prices for beef, chicken and pork, citing higher costs. Tyson, TSN 1.30% the biggest U.S. meat processor by sales, said it increased prices for beef by an average 23.8% over the three months ended April 2, while its chicken prices increased 14.4% and 10.8% for pork. Tyson said its cost of goods sold increased by 15% over the quarter as the…