Tyson talks cattle
Washington Ag Today August 10, 2009 Tyson Foods, which has a beef plant in Wallula, Washington, recently reported 3rd quarter earnings of 134 million dollars, up from only nine million dollars a year earlier, even though sales fell three percent on declines in beef and pork. Jim Lochner, Tyson’s Senior Vice President of Fresh Meats, presented the company’s outlook for cattle to a teleconference of stock analysts. He said beef remains weak. Lochner: “We expect to see adequate supplies of fed cattle and continued demand pressure. Cattle on feed numbers have been lower than last year as placements have been down. This appears to be a function of fewer imported feeder cattle, excellent pasture conditions and the implied reduction in the calf crop from prior inventory reports. Pasture conditions have been the best seen in many years. It appears cattle are likely out on pasture and will come to the feedlots later than they would of otherwise. The fed steer-heifer slaughter reduction suggests fed supplies are pushed into the late summer and fall.” Income from Tyson's beef operations totaled 66-million dollars in the quarter ending June 27th. The National Biodiesel Board, the trade association for the U.S. biodiesel industry, has thanked U.S. Senator Maria Cantwell of Washington for introducing the Biodiesel Tax Incentive Reform and Extension Act. The Act extends the biodiesel tax incentive for five years and changes it from a blenders excise tax credit to a production excise tax credit. I’m Bob Hoff and that’s Washington Ag Today on the Northwest Ag Information Network. ?
