Tyson Faces Margin Pressure as US Cattle Shortage Pushes Beef Prices Higher
A US cattle herd at a 75-year low has lifted beef prices sharply, but Tyson is seeing margin pressure as beef operating margins fell to negative 4.3% in the first nine months. The company cut its annual income forecast to $1.85 billion to $2.05 billion from $2.1 billion to $2.3 billion, while plans to allow limited duty-free imports are unlikely to offset the shortage.