LONDON -- (Marketwire) -- 11/28/12 -- For companies in the meat products industry, such as BRF - Brasil Foods S.A. (NYSE: BRFS) and Tyson Foods Inc. (NYSE: TSN), the effects of the summer's intense drought are still being felt. Industry players have been facing high input costs for feed grains, and hay prices have also increased almost two-fold as the drought withered pastures. Industry players have been employing price hikes to protect their squeezed margins and some have planned production cuts.
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Despite the challenging environment, Tyson Foods impressed with its fiscal fourth quarter earnings release last week. The company reported net income of $185 million, compared to $97 million the year before, as strong 5.5 percent growth in chicken sales helped to propel results higher. Alongside price hikes and potential production cuts Tyson is also looking to expand sales and offerings of higher-margin packaged meat products. See what our analysts have to say on Tyson Foods Inc. Follow the Link below
Elsewhere in the industry, Brasil Foods posted third quarter net profits of $44 million, 75 percent lower than a year ago. Nevertheless, the company reportedly expects strong revenue growth of between 10 and 12 percent in 2013. Brasil Foods also seems to be moving forward with its plans to become a leading presence in the Brazilian cheese market, having recently announced the formation of a 50/50 whey processing joint venture with Group Carbery. Analyst opinion on BRF - Brasil Foods S.A. accessible for free at
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