Tyson remains optimistic about FY2013 results despite near-term challenges
Tyson Foods Inc. told investors at the Goldman Sachs 17th Annual Agribusiness Conference that its second fiscal quarter has been more challenging than anticipated due to margin compression in its Beef and Pork segments; however, the company remains optimistic about its results for the full year.
James Lochner, Tyson's chief operating officer, said, "Margins have been compressed throughout the past month as the value of beef has fallen more than the price of cattle. Historically, adjustments occur that allow for a spread between the revenue and the cattle cost. We run our plants for margin, not market share."