Tyson Foods sees falling costs for pork, beef in FY17
Management says the favorable environment for beef prices will continue. The company expects domestic protein demand continuing in FY17. Q4 poultry volumes were softer in Q4 and are improving so far in Q1. Management said the company expects pork supply and demand growth will be relatively balanced in the next few years. The company continues to see strong pork demand in FY17. Management notes that livestock prices have come down faster than retail has. Commenting on the CEO transition, outgoing CEO Donnie Smith said the chicken litigation has nothing to do with the CEO transition and the company is disputing the claims made against it and is looking forward to defending itself. Comments provided during Q4 earnings conference call.