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Tyson says Hog Disease Impact to Linger for Years
Global meat prices are poised to rise after China culled tens of millions of hogs to contain a fast-spreading swine disease, the chief executive of Tyson Foods Inc. said.
The top U.S. meat processing company already is paying higher prices for U.S. hogs and other meat as Chinese buyers crank up purchases, Tyson executives said Monday. In the months ahead, Tyson anticipates higher meat costs for consumers, as well as stronger profits in its own pork, beef and chicken-processing operations.
Noel White, CEO of the Arkansas-based company, said the potential impact of the past year's African swine fever outbreaks was unprecedented, and could lower global meat supplies by 5% at a time when protein consumption is on the rise world-wide...
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