Tyson Foods Sales Rise as Meat Prices, Restaurant Demand Jump | Investing News

By Karl Plume and Praveen Paramasivam

(Reuters) -Soaring meat prices helped Tyson Foods Inc overcome pandemic-related labor shortages at its plants as the top U.S. meat packer reported a stronger-than-expected quarterly profit on Monday and forecast improved revenue in the year ahead.

The Springdale, Arkansas-based company reported a double-digit jump in sales and earnings in the fiscal fourth-quarter ended Oct. 2, including a record quarter in its beef segment despite a 20% surge in cattle prices.

Tyson shares were up around 4% in midmorning trading.

Rising meat prices and improving demand from restaurants have boosted U.S. meat companies including Tyson after the COVID-19 pandemic kept many diners at home last year. Meat packers have also seen record demand for American beef from China and amid diplomatic tensions between Beijing and supplier Australia.

Increased costs for labor, transportation and items such as feed grain and packaging have created headaches, however.

“Inflation

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Rising Beef Prices Squeeze Carnivores From Buenos Aires to California | Investing News

By Agustin Geist, Tom Polansek and Ana Mano

BUENOS AIRES/CHICAGO/SAO PAULO (Reuters) – Beef prices are surging worldwide, taking meat off the menu in steak-loving Buenos Aires and spoiling summer barbecues in the United States as Chinese imports rise and the cost of feeding cattle soars.

Globally, the surge is contributing to the highest food prices since 2014, according to the United Nations food agency, hitting poorer consumers particularly hard as they struggle to recover from economic shutdowns triggered by the COVID-19 pandemic.

The rise in beef prices has been spurred by increasing demand from China, limited cattle supplies in some countries, a shortage of slaughterhouse workers and rising feed costs. The trend is starting to rattle supplier markets and impact policy.

Argentina, the second-biggest beef supplier to China after Brazil, on May 17 halted exports for a month as it grapples with runaway inflation. It blamed high demand from

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5 of the best food processors worth investing in

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A great food processor is like having a second pair of hands in the kitchen, as they help you prep ingredients quickly.

From chopping onions to mincing meat, these versatile appliances take seconds to slice, grate and chop – most can even knead dough, too. 

They’re not the cheapest kitchen utensil but, given that we’ve all become chefs and bakers in the making during lockdown, now seems as good a time as any to invest.

Online electrical retailer, AO.com, has reported sales of food preparation appliances have risen by 510% year-on-year as Brits seek to recreate date night and ‘fakeaways’ at home – and a food processor is in the top three.

So, without

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