Tyson Foods beats profit estimates, eyes fatal hog disease
- Tyson Foods Inc projected on Monday that it could reap significant financial gains from an incurable hog disease spreading across Asia, after reporting quarterly profits above analysts’ estimates.
The disease, which is fatal to pigs but harmless to humans, has been detected in China, Vietnam, Cambodia and parts of Europe. “African swine fever has the potential to impact the global protein industry on a level that we have never experienced,” he said. White said there was a distinct possibility African swine fever could enter the United States, which would threaten trade and herds.
Tyson plans to raise prices for prepared foods over the next six months to compensate for more expensive raw materials, White said. He said higher meat costs will reduce demand among some consumers.
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