Tyson Foods Raises Price of Meat And Poultry Due to 'Accelerating and Unprecedented Inflation'

Tyson Foods is raising the cost of their meat and poultry due to “accelerating and unprecedented inflation.”

There has also been major concerns of a possible national meat shortage due to coronavirus restrictions on meat processing plants.

Fox Business reports that “the Springdale, Arkansas-based food products company last quarter hiked its average price for pork by 39%. Beef and chicken prices jumped by 12% and 16%, respectively.”

“We have seen accelerating and unprecedented inflation,” CEO Donnie King said on the company’s third-quarter earnings call on Monday. “Inflation is up about 14% during our 3Q [third quarter] and 9% year-to-date.”

According to the report, Tyson is planning to raise retail prices on Sept. 5 — after already having increased prices for restaurant customers. They are also not ruling out continued price hikes in near future.

“We will continue to take price to match the nature of the cost that’s coming to us,” he said.

The Daily Wire noted that “the firm’s $12.48 billion revenue greatly surpassed analysts’ prediction of $11.49 billion — a reality driven by higher prices for consumers.”

Tyson was the first and largest food employer to require vaccines for their workforce. Earlier this month, they claime that half of their 120,000 person staff had already been jabbed.

John Federspiel, owner of Feder’s Meats, has said that they believe vaccination mandates may scare off a lot of potential workers, exacerbating the potential for a meat shortage. However, they are still optimistic for the industry because their customer base expanded during the pandemic.

“When all the restaurants shut down, people had to learn how to cook,” Federspiel told WANE. “They had to cook for their families, and that sounds pretty simplistic but I think that’s basically what it boiled down to. People had to provide for their families. So they had to go to the grocery stores. They had to go to businesses like that, like us, and we expanded our customer base because of that.”

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5 responses to “Tyson Foods Raises Price of Meat And Poultry Due to ‘Accelerating and Unprecedented Inflation’”

  1. Wolv256 says:

    I will never stop eating meat. You damn Commie fruitcakes can’t stop me. If you try, I will eat you.

  2. Wolv256 says:

    Rabbit doesn’t have enough fat, it’s not as healthy. Everything they told you about nutrition is a lie.

    However, rabbit liver is awesome. It tastes way less harsh than beef liver and is a reasonable size, since you only want a few ounces of it per day. Order a bunch of rabbit livers.

  3. Devilsgun says:

    Time to raise up some more rabbits for meat. Rabbit is the Meat of the Future – Silent, easy to raise, delicious, prodigious. A truly rebellious protein source.

  4. UppityG says:

    Looking forward to having a Like button for posts and uploads (along with comment likes).

    This is my shocked face. It will negatively affect those who were already living hand to mouth. We have two chest freezers and stocked up a while ago. We also hunt game and have a tasty garden hot house and keep hens (doesn’t everyone by now?).