Tyson Raises Meat And Poultry Prices As Inflation Continues
Tyson Foods — the second-largest meat and poultry producer in the United States — is struggling to keep up with inflation.
In the company’s third-quarter earnings call, CEO Donnie King told investors that the company has “seen accelerating and unprecedented inflation” threatening all of its business units.
Fox Business explains:
The Springdale, Arkansas-based food products company last quarter hiked its average price for pork by 39%. Beef and chicken prices jumped by 12% and 16%, respectively.
Tyson is planning to raise retail prices on Sept. 5 after already having increased prices...