Tyson Crows Over Profits -- Chicken Business, Cost Controls Drive Surprising 3q Rebound for World's Largest Meat Processor

Summary

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Tyson Foods Inc., the world's largest meat processor, reported a bigger-than-expected profit for its third fiscal quarter on Monday and raised its profit forecast for the year as it rebounds from last year's losses.

Tyson credited higher average sales prices for chicken, beef, pork and prepared foods, export growth and a cost-cutting program that is ahead of a target of saving $200 million this year.

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Tyson Crows Over Profits -- Chicken Business, Cost Controls Drive Surprising 3q Rebound for World's Largest Meat Processor

Those factors more than offset higher feed prices for animals, boosted by demand for corn for producing the alternative fuel...

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