Tyson reports $112 million quarterly loss

Tyson Foods reported a quarterly loss of $112 million, due to the rising costs of chicken feed and losses on grain-hedging activities, the company reported. The company posted sales of $6.52 billion, compared to a year ago, when the company had a $34 million profit and sales of $6.48 billion.


Reuters reported that the company’s chicken unit lost $286 million, while the beef unit broke even and pork earned $55 million. The company’s prepared foods unit earned $35 million.


Tyson reports that chicken has since improved due to higher meat prices and lower costs. “When our demand began a noticeable decline, we reduced production by approximately 5 percent in December,” says Leland Tollett, interim CEO. He said that the outlook for the company’ beef, pork and prepared foods segments remain positive, as do international trade and renewable products initiatives.

Niman Ranch announces merger

Niman Ranch and its network of U.S. family farms and ranches producing naturally raised meats announced it will merge with an affiliate of its largest shareholder, Natural Food Holdings LLC. 


Following the merger, Natural Food Holdings will own 100 percent of both Niman Ranch and affiliated specialty pork processor, Sioux-Preme Packing, which currently processes all of Niman Ranch’s pork. As a result of this transaction, Niman Ranch will be more efficient, better capitalized and well positioned for continued growth, including further expansion of its nationwide network of family farmers and ranchers.


“Our mission at Niman Ranch is to partner with U.S. family farmers and ranchers that raise livestock humanely and sustainably, and bring better-tasting, natural beef, pork, lamb and chicken to market,” said Jeff Swain, Niman Ranch CEO. “Consolidating our ownership under Natural Food Holdings will enable Niman Ranch to achieve certain operational synergies, be more efficient, and ultimately better serve our customers nationwide,” he added. 
Source: Niman Ranch