Tyson: Demand for chicken improving in the US
Tyson Foods, have stated that sales of chicken, beef and pork improved in the past two weeks as the weather turned warm.
Speaking at the BMO Capital Markets 2011 Farm to Market Conference Donnie Smith, Tyson's president and chief executive officer said "We are happy with the improvement in demand we've seen following a cold, wet April. Because beef and pork pricing are strong, many retailers and food service operators are likely to feature chicken this summer”.
According to Noel White, senior group vice president of Tyson Fresh Meats, a key factor driving price is the amount of protein available to US consumers. According to USDA figures, protein supply has declined the past three years and is projected to decline again in 2011 – an unusual trend. Strong exports have contributed to that trend.
"Exports, along with production efficiencies and value-added programs, are driving our earnings," White said. Going forward, he does not see major changes in the solid fundamentals of beef and pork. "The outlook is bright," he concluded.
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