Tyson Cuts Beef Outlook, Expects $625–775M Segment Loss
Sky-high beef prices provide no benefit to Tyson Foods as the company revises its financial outlook for the beef segment. Tyson is restructuring its beef network by closing the Joslin, Illinois plant and the Eagle Mountain, Utah case-ready facility and selling the Pasco, Washington site. A Sept. 3 update projects a $625–775 million beef loss, driven by margin compression from volatile cattle prices and severe U.S. cattle shortages.