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Tyson projected its beef business will post an adjusted operating loss of between $400 million and breakeven in fiscal 2024 due to tight US cattle supplies. Beef quarterly sales volumes fell 6.7% while prices rose 10.2%.
Tight US cattle supplies are squeezing packer margins and keeping beef prices high, which supports cattle values. Lower packer throughput points to reduced slaughter demand for cattle.
reuters.comGranth VanaikNov 13, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
