HUTCHINSON, Kan. — Tyson reported strong second quarter earnings as fears about swine fever in other parts of the world market raise concerns about pork prices and product numbers.
Sales for the meat and poultry giant totaled $10.4 billion compared with $9.7 billion the same period last year. Net income was $430 million compared with $316 million in 2018. The positive numbers did not reflect the downturn in the prepared foods department. Second quarter sales fell by 9.5% to $2.02 billion compared with $2.14 billion last year, although operating income did increase from $119 million to $245 million.
An outbreak of swine fever in China is causing concerns that prices will increase quickly and the number of hogs available will fall. China has about 700 million hogs that account for about half of the world’s hog population.