TYSON Foods Inc posted a surprise second-quarter loss and cut its full-year revenue forecast on Monday as prices for its beef and pork have declined, sending the U.S. meatpacker's shares tumbling 9% before the bell. The weaker-than-expected results indicate that cash-strapped consumers are cutting back on meat spending in a high-inflation environment while a shrinking cattle herd forces Tyson to pay more for livestock, eroding margins. CEO Donnie King, who is seeking to cut costs, said meat markets are challenging and Tyson is focused on improving profit margins.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-05-09-story-h-271450439-Tyson_Foods_posts_surprise_loss_cuts_2023_revenue_forecast

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