Tyson Soars as Resilient Protein Demand Offsets Beef Pain

Tyson Foods Inc.’s shares soared after the largest US meatpacker raised its full-year profit outlook, with strong protein demand enabling growth even as the its beef segment continued to slump.

The largest US meatpacker said it sees adjusted operating income between $2.2 billion and $2.4 billion in the fiscal year, up $100 million from its prior range. A greater consumer appetite for protein has supported more chicken and pork purchases, while also allowing Tyson to pass through higher beef prices to offset the impacts of costly US cattle supplies.