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Tyson raises prices of chicken as demand shifts from expensive beef cuts
Tyson reportedly increased chicken prices by 20.1%
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- https://www.foxbusiness.com/lifestyle/tyson-raises-prices-chicken-demand-shifts-expensive-beef-cuts
ByDaniella GenoveseFOXBusiness
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According to Tyson Foods, chickenhas risen in popularity as consumers shy away fromexpensive 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 pricesalone 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…
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