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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Soaring meat prices a tough sell for barbecue pitmasters

“Sorry, ma’am. We’re already out of the burnt ends,” Barbosa, owner of the mobile barbecue trailer Barbosa’s Barbeque, tells the patron standing out front of his trailer-turned-small business. “They were really popular today and we had a big order.”

Selling out of meat is nothing new for the native-Texan who moved to Denver in 2019 from Baton Rouge, Louisiana. In the nineteen months he’s served smoked meats around town, Barbosa has quickly drawn rave reviews from those craving craft barbecue. They routinely line up to devour his signature beef brisket, homemade sausages, and moist smoked turkey breast that he may, or may not, dip in a little melted butter before serving.

“Poultry and butter go great together,” Barbosa quips.

Moments of levity have been rarer for Barbosa and other pitmasters across the country this year. They’ve seen the cost of their menu staples: beef, pork and poultry steadily increase

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Cows are no longer essential for meat and milk

IT’S LUNCHTIME in El Segundo, a small coastal town in Los Angeles County, around 130km west of where the McDonald brothers opened their first burger stand in 1948. Burgers are on the menu today. They come three to a tray, glistening in their brioche buns, piled high with lettuce, tomatoes, cheese and a creamsicle-orange sauce that tastes like mayonnaise-mellowed ketchup. Alongside them are other greatest hits from American fast-food menus: sausages nestled into long hot-dog buns with sautéed bell peppers and onions; sausage patties on flat English muffins; deep-fried chunks of white meat that look and taste like chicken nuggets.

Nothing on the table contains animal products. The brioches are vegan; what looks like meat is made from pea protein. Everything was, as American fast-food usually is, delicious after the first bite and regret-inducing by the third. Though the nuggets were slightly softer than chicken,

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Beyond Meat Q2 Earnings: Restaurant Sales In Focus As Economy Reopens

  • Reports Q2 results on Thursday, Aug. 5, after the market close
  • Revenue Expectation: $143 billion
  • EPS Expectation: loss of $0.23

Shares of Beyond Meat (NASDAQ:) have remained under pressure throughout the pandemic as the veggie burger-maker struggled to increase its sales when restaurants, stadiums and campuses were closed.BYND Daily

As the economy reopens and some of these avenues start again, investors are not convinced that sales will come back quickly. BYND shares have fallen 19% during the past month, illustrating investors’ nervousness about owning this high-growth stock.

When the Los Angeles-based company releases its second-quarter earnings tomorrow, one of the most important numbers to analyze is how quickly sales from restaurant and food-service sectors are rebounding.

Unlike other packaged-food companies, Beyond Meat relies heavily on these segments for growth. The emergence of the Delta variant of COVID-19, which forced many countries to re-impose lockdowns and prompted US health authorities to

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