Tyson Foods Inc. and Smithfield Foods Inc. will likely raise shipments to Japan because of disruption to the company’s output due to the recent natural disasters, analysts said. The increased exports to Japan may boost prices of beef and pork in the U.S. because of the tight supplies here, reports Bloomberg.
“Significant inventory replenishment is required near term given empty supermarket shelves and Japan’s protein production is disrupted,” Farha Aslam, a New York-based analyst for Stephens Inc., said in a report. “Tyson and Smithfield have indicated that export traders are requesting as much product as possible be shipped to Japan.”