CIO 'more attracted' to Tyson Foods amid high inflation
STORY: Tyson Foods raised its full-year sales outlook in May as soaring meat prices drove its quarterly revenue and earnings above expectations.
Tyson, the biggest U.S. meat company by sales, said it has hiked prices to offset rising costs for labor and goods like animal feed.
Globally, food prices have hit a record highs this year as the war in Ukraine has disrupted shipments of grains used for feed.
Rising beef prices are pushing some consumers to buy cheaper cuts, though overall meat demand remains strong, Tyson Chief Executive Donnie King said.
