Tyson Foods profits soar as meat prices soar

Tyson Foods reported skyrocketing profits as the company raised prices for beef, chicken and pork, citing higher costs.

Tyson the largest U.S. meat processor by sales, said it raised beef prices an average of 23.8% in the three months ended April 2, while its chicken prices rose 14.4% and 10.8% for pork. Tyson said its cost of goods sold rose 15% in the quarter as the company paid more for feed, freight and labor expenses.


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