Tyson Foods Profits Soar as Meat Prices Climb
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…