Meatpacker Tyson Foods Raises Annual Revenue Forecast on Resilient Chicken Demand

Tyson Foods raised annual revenue forecast and posted better-than-expected results for the third quarter on Monday, betting on resilient demand for meat products, especially chicken, sending its shares rising nearly 5% before the bell.

Profit margins jumped in Tyson's chicken and prepared foods businesses, while they worsened in its beef segment.

Tight U.S. cattle supplies continue to force Tyson and other meatpackers to pay more money to buy livestock to slaughter into beef.

However, the Springdale, Arkansas-based company has seen sustained demand for frozen meat and...

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