Tyson raises prices of chicken as demand shifts from expensive beef cuts

[mystery-ak]

 1 hour ago
Tyson raises prices of chicken as demand shifts from expensive beef cuts
Tyson reportedly increased chicken prices by 20.1%

 
By Daniella Genovese FOXBusiness

According to Tyson Foods, chicken has risen in popularity as consumers shy away from expensive beef cuts.

During an earnings call on Monday, Tyson CEO Donnie King told analysts that despite the challenging economic environment, where costs of its goods continue to increase, "consumer demand for protein remains relatively steady."

However, some people are shifting away from high-priced meats as food prices continue to surge. Grocery prices alone increased 12.2% in June compared to a year ago, outpacing the overall Consumer Price Index.

On Monday, the meat producer reported that it saw "specific strength" in its chicken segment as well as with specific cuts of meat, such as breakfast sausage and bacon, throughout the three-month period ending on June 30, even though it raised prices on its meat to offset higher costs.

According to Reuters, the company raised chicken prices by slightly more than 20%.

The company reported that its sales gains "were largely driven by higher average sales price in chicken and prepared foods," underscoring the demand for the category.

"We delivered substantially improved earnings in our chicken segment as well as higher earnings in prepared foods, which partially offset a decline in beef and pork earnings," King told analysts.

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https://www.foxbusiness.com/lifestyle/tyson-raises-prices-chicken-demand-shifts-expensive-beef-cuts

[mystery-ak]

I hate to think how much a turkey will cost this year for TG...

[Kamaji]

Chicken was already expensive enough around me.  Now it's going to be even worse.

[libertybele]

I haven't bought Tyson chicken in quite awhile.  I hope other poultry/chicken companies don't follow that lead. Two weeks ago I went shopping and paid $3.69/lb. for chicken breasts and chicken thighs (bone-in) which I thought was pretty reasonable; free range, no preservatives or additives.

[libertybele]

I hate to think how much a turkey will cost this year for TG...

Yep, I've been thinking the same thing (I already purchased my whole cranberry sauce, because last year they were out around here). Last year I bought one early and two weeks later they were at a much lower price so I froze one for later.  I am hoping Farmer Joe's gets some in at a decent price.  The other option is always the little Italian shop, they usually have fresh Amish turkeys but they are ridiculously expensive.

[DefiantMassRINO]

... bird flu and Biden's Green New Deal don't help.

One Thanksgiving, I had squab for dinner at a fancy Martha's Vineyard frog restaurant.  Needless to say, the serving size did not satiate my hunger as much as a Butterball Turkey.

Pigeon meat could become the new American Thanksgiving standard table meat this year.

[roamer_1]

I mostly roll my own... So this costs me nothing.

Folks should look to growing them - Even in a co-op situation with a local farmer
You fund the operation and he does the work, and you get 1/3 to 1/2 the bounty cut and wrapped.

Right now you are ninety to a hundred and twenty days away from having all the chicken you can stand.

[catfish1957]

If I look hard enough, I can still find leg quarters for less than a $1 a pound.

Meat no doubt though meat (and gasoline) has been the benchmark example of Biden's destructive polices aiming toward hyperinflation.

[DefiantMassRINO]

Chicken leg quarters for less than $1/pound ... at minimum, the sale price is $1.79/pound, sometimes as high as $2.79/pound.

That's what happens when you live in a region where much of our food has to be trucked in - those high diesel fuel prices contribute to the higher cost of food in the Northeast.

Dem dimwits.

[catfish1957]

Chicken leg quarters for less than $1/pound ... at minimum, the sale price is $1.79/pound, sometimes as high as $2.79/pound.

That's what happens when you live in a region where much of our food has to be trucked in - those high diesel fuel prices contribute to the higher cost of food in the Northeast.

Dem dimwits.

$2.79/lb?  Ouch!!!!

I payed $0.89/lb. at my local HEB (Texas supermarket) last week.   But I have noticed the cut chicken breasts there have skyrocketed to $3.99/lb.