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Search resuls for: "Tom Polansek"


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☆ Tyson Foods ends COVID-19 vaccine mandate for employees
  + stars: | 2022-11-16 | by ( Tom Polansek | ) www.reuters.com   time to read: +2 min
The requirement "generally improved our ability to operate our business effectively in fiscal 2022," the report said. America's largest meatpacking union, the United Food and Commercial Workers International Union, said it negotiated an agreement with Arkansas-based Tyson to end the mandate. He added that Tyson kept other safety protocols like requiring workers to self-screen for COVID-19 symptoms. Some Tyson workers remain worried about catching COVID-19 in chicken plants, said Magaly Licolli, director of Venceremos, an organization that advocates for poultry workers in Arkansas. "There is still the pandemic," said Licolli, who has criticized Tyson for not protecting plant employees.
☆ Tyson Foods board oversees review of finance chief's arrest
  + stars: | 2022-11-14 | by ( ) www.reuters.com   time to read: +1 min
CHICAGO, Nov 14 (Reuters) - Tyson Foods' board of directors is overseeing a "thorough review" of the recent arrest of Chief Financial Officer John R. Tyson on charges that he trespassed at a young woman's house while intoxicated, Chief Executive Officer Donnie King said on Monday. John R. Tyson, great-grandson of the meat company's founder, apologized during a quarterly earnings call for his Nov. 6 arrest for criminal trespassing and public intoxication in Fayetteville, Arkansas. "I'm embarrassed and I want to let you know that I take full responsibility for my action," said Tyson, 32. John R. Tyson is the son of the chairman of the company’s board of directors, John H. Tyson. The board is independent, King told analysts on the earnings call.
☆ Tyson Foods sees sales above estimates on steady demand
  + stars: | 2022-11-14 | by ( ) www.reuters.com   time to read: +1 min
Nov 14 (Reuters) - U.S. meatpacker Tyson Foods Inc (TSN.N) on Monday forecast full-year sales above Wall Street estimates, signaling steady demand for its higher-priced chicken and beef despite decades-high levels of inflation. Packaged food makers like Tyson Foods have so far witnessed very little pushback from consumers on price increases, which were undertaken due to rising costs. Sales volume at the company's chicken business, the largest after beef, increased 1.1% in the fourth quarter, even as Tyson raised prices by an average 18.2%. The company's sales rose to $13.74 billion, from $12.81 billion, beating analysts' average estimate of $13.50 billion, according to IBES data from Refinitiv. The Springdale, Arkansas-based company also projected full-year 2023 sales between $55 billion and $57 billion, compared with analysts' expectation of $53.60 billion, according to IBES data from Refinitiv.
☆ Tyson Foods sees annual sales above estimates on steady demand for meat
  + stars: | 2022-11-14 | by ( ) www.reuters.com   time to read: +2 min
Nov 14 (Reuters) - U.S. meatpacker Tyson Foods Inc (TSN.N) on Monday forecast full-year sales above Wall Street estimates, signaling steady demand for its higher-priced chicken and beef despite decades-high levels of inflation. The Springdale, Arkansas-based company projected full-year 2023 sales between $55 billion and $57 billion, compared with analysts' expectation of $53.60 billion, according to IBES data from Refinitiv. Demand for premium cuts of beef declined in the fourth quarter compared to a year earlier, Tyson said. Sales volume at the company's chicken business, the largest after beef, increased 1.1% in the quarter, even as Tyson raised prices by an average 18.2%. Tyson posted an operating margin of 5.6% in the reported quarter, compared with 14.9% a year earlier.
☆ U.S. nears record poultry deaths from bird flu; virus type complicates fight
  + stars: | 2022-10-18 | by ( Tom Polansek | ) www.reuters.com   time to read: +5 min
This has spurred export bans, lowered egg and turkey production, and contributed to record prices of the staples ahead of the U.S. holiday season. Europe is already suffering its worst avian flu crisis, with nearly 50 million poultry culled. The United States is monitoring wild birds for avian flu in four migration paths known as flyways, up from two previously, and plans to do the same next year. "This virus could be present in wild birds for the foreseeable future," Sifford said. Minnesota-based Hormel Foods Corp (HRL.N), owner of the Jennie-O Turkey Store brand, said it expects avian flu to reduce its turkey production at least through March 2023.
☆ U.S. plans rule to protect livestock farmers from company retaliation
  + stars: | 2022-09-26 | by ( Tom Polansek | ) www.reuters.com   time to read: +2 min
It would also seek to protect farmers who may be at a higher risk for mistreatment because of their race, gender, sexuality or religion, the agency said. The rule would revise regulations under the Packers and Stockyards Act, a century-old law meant to protect farmers from unfair market practices. In May, the USDA proposed another rule that would require poultry companies to be more transparent with contract chicken growers. The rules aim to improve on previous USDA efforts to protect farmers. Separately, executives who worked for Pilgrim's Pride (PPC.O) and another poultry producer were found not guilty of fixing prices in the poultry sector this year.
☆ Droughts, Ukraine war push global grain stocks toward worrying decade low
  + stars: | 2022-09-26 | by ( Tom Polansek | ) www.reuters.com   time to read: +8 min
But the United States, the world's top corn producer, is now expected to harvest its smallest corn crop in three years. That would be fewer days of corn stocks than the world had in 2012, when the last global food crisis spurred riots. Ukraine is expected to harvest 25 to 27 million tonnes of corn in 2022, down from 42.1 million tonnes in 2021, following Russia's invasion, according to official estimates. read moreSanctions related to the war mean Russia has also struggled to export what is expected to be a record-large wheat crop. read moreAgricultural lender Rabobank said the next U.S. wheat crop is also at risk and will be planted in dust this autumn unless rains fall.
☆ As war, drought hit global crops, Argentina gambles on GM wheat
  + stars: | 2022-09-20 | by ( Maximilian Heath | ) www.reuters.com   time to read: +9 min
It was the first GM wheat strain in the world to receive such approval. No other global seed company has publicly endeavored to develop GM wheat since 2004, when giant seed maker Monsanto, now owned by Bayer AG, dropped plans to develop GM wheat that could withstand its weed killer Roundup. In 2020 he had threatened to halt wheat imports from Argentina after its government approved Bioceres' GM wheat. A new landmark is the recent approval in Nigeria, the only country to fully approve imports of HB4 wheat grains. Trucco said Russia's invasion of Ukraine and severe droughts in Europe and China had shifted the needle on drought-tolerant GM wheat.
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