Today the world’s largest meat producer, Tyson Foods Inc., said that a large impairment charge in its beef business left it with a fourth-quarter loss. However, the company added that its sales rose and its chicken business was profitable for the second quarter in a row.
The recession has hurt Tyson, as consumers have been eating less expensive food and limiting meals at restaurants. Still, the overall industry is improving due to the falling commodity costs and production cuts, which help boost prices.
Shares of the meat giant gained 11 cents to $13.18 in morning trading.
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