29.07.2008

Tyson

Tyson Foods Inc, the leading meat producer in the United States, said on Monday its quarterly profit fell 92 percent because of the price of poultry feed, and warned that rising grain costs could lead to more losses in its chicken unit.
The chicken unit had a $44 million loss in the fiscal third quarter, compared to a $95 million profit a year ago, as prices for corn and soybeans skyrocketed. Tyson said it paid $140 million more for grain during the quarter to feed its chickens compared to a year ago, and that it expected grain costs to be up $550 million this fiscal year.