Tyson Foods Profits Soar as Meat Prices Climb

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

Tyson 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 company paid more for animal feed, freight and labor expenses.

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