(Bloomberg) Tyson Foods Inc. raised its 2024 earnings outlook after posting second-quarter profits that beat analyst estimates amid a rebound in the US meat industry.Most Read from BloombergTruce Talks Drag as Hamas Hits Israel Crossing in Deadly AttackBuffett Praises Apple After Trimming It, Drops Paramount StakeTreasury Rally Risks Running Into a $125 Billion Brick WallFrance’s Macron Calls for Reset of Economic Ties With ChinaLamborghini Bros No More: Crypto Is Creating a New Wealth Effect
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Tyson and other meat producers have been squeezed by record-high cattle costs and elevated animal feed prices, just as inflation-hit consumers have been trading down to cheaper foods.
A shareholder proposal that would have Springdale-based Tyson Foods Inc. comply with the World Health Organization s antibiotic requirements for beef and pork was defeated Thursday morning at the company s 60th annual meeting.