Escalating meat prices haven’t slowed restaurant and retailer demand for meat, Tyson Foods Inc. executives said, as rising prices helped to more than double the company’s quarterly profit.
Tyson, the biggest U.S. meat processor by sales, said that orders for beef, chicken and pork continue to outpace its ability to supply products, with its plants still short on workers. Raising wages and expanding benefits to recruit and retain staff is helping drive meat prices higher, Tyson said, along with transportation and other costs.
