Tyson, a leading producer of Iowa pork, sees sales slump amid high costs, low demand
BPC Staff Aug 9, 2022 | 3:36 pm
<1 min read time104 wordsAll Latest News, Iowa News, Manufacturing & Logistics
Des Moines Register: Reduced global and domestic demand is hitting one of the top producers in Iowa’s nation-leading pork industry. Arkansas-based meatpacking giant Tyson Foods reported Monday that it earned about $25 million from its pork division for the three-month period ending July 3, down about 63% from the same quarter last year. Pork is a small part of Tyson’s business, accounting for just 2% of the company’s total profit last quarter. But the industry is a key element for the economy of Iowa. Overall, Tyson reported $1.03 billion in operating income in its third quarter, down 2.7% from the same period in 2021.