Mad-Cow Disease and "Pink Slime" Provides Unwanted Attention for the Meat Products Industry
The Paragon Report Provides Stock Research on Tyson Foods and Smithfield Foods
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 05/08/12 -- The meat products industry has been improving but has not reached the levels they were at before the economic downturn. Large scale US meat producers have faced significant headwinds in their homeland due to the US government's shift towards supporting small scale farming and production. Cattle prices saw a significant drop last month amid rumors of mad-cow disease. The Paragon Report examines investing opportunities in the Meat Products Industry and provides equity research on Tyson Foods, Inc. (NYSE: TSN) and Smithfield Foods, Inc. (NYSE: SFD).
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Cattle futures have rebounded after a run of bad news in the industry. Rumors of mad-cow and the controversial "pink slime" have provided some unwanted attention to the meat industry in recent months. The discovery of mad-cow disease in a California dairy cow ignited fear in investors who still have memories of 2003, when mad-cow disease saw exports of American beef fall as much as 75 percent. "The market reacted to it more than the consumer," said Troy Vetterkind, president of Vetterkind Cattle Brokerage in Chicago. "Beef demand isn't stellar, but it's sure not hurt."
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Tyson Foods reported that their beef sales dropped 10.7 percent and recorded a $1 million operating loss for their beef business. High quality global journalism requires investment. "The unwanted controversy over lean, finely textured beef temporarily destroyed demand for ground beef, and beef in general, virtually overnight," said Tyson's COO James Lochner.
Smithfield Foods reported sales for the third quarter of fiscal 2012 were $3.5 billion, up 9%, resulting from higher average unit selling prices and volumes in the Pork segment. The company reported net income in the current quarter of $79.0 million ($.49 per diluted share) compared to net income of $202.6 million ($1.21 per diluted share) last year. For the first nine months of fiscal 2012 net income was $281.8 million ($1.72 per diluted share) compared to net income last year of $422.6 million ($2.53 per diluted share).
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Datum: 08.05.2012 - 12:20 Uhr
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