Meat+Poultry - January 2022 - 18

COVER STORY
" How long it
might take for
wage gains to
again exceed
the rate of
inflation is the
trillion-dollar
question. "
- ANDREW GOTTSCHALK
workers. They will continue to spend hundreds
of millions of dollars this year.
Tyson's poultry plants are now fully
staffed for the first time in two years,
president and chief executive officer, Donnie
King, said last November during a media call.
Overall absenteeism was better than it was a
month ago and 96% of its US workforce was
now vaccinated, which was an advantage for
Tyson, he said. To attract workers, Tyson is
striving to be the most sought-after place to
work. It has significantly increased wages,
has experimented with childcare facilities
and put more flexibility into working hours
and shifts, he said.
A deeper look at Tyson's beef results
showed that its volume in its fourth quarter
was down 15.4% on the same quarter last
year. But its operating income improved
dramatically because its average sale price
was 32.7% higher than last year. For the year,
volume was up 0.3% and the average sale price
was up 14.0%.
In contrast, Tyson's pork business had
lower earnings in 2021 versus 2020 and its
chicken business, beset by several wellpublicized
issues, had a loss. Pork had
operating income of $328 million for the year
(versus $565 million in 2020). Its chicken
segment had a $625 million loss for the year
for a negative 4.6% margin. But Tyson expects
its chicken business to recover significantly
this year and have an operating margin at the
lower end of 5% to 7% for fiscal 2022. This
would be more in line with what other major
chicken processors made in 2021.
EXPORT EXCELLENCE
The red meat industry will be hoping that
exports continue to increase after a stellar
year in 2021. Notable achievements last year
included South Korea becoming a $2 billion
destination for US beef exports for the first
time. Exports were fueled by surging chilled
beef sales. Another achievement was a surge in
variety meat exports that began in September.

http://www.kohlerindustries.com

Meat+Poultry - January 2022

Table of Contents for the Digital Edition of Meat+Poultry - January 2022

Meat+Poultry - January 2022 - Intro1
Meat+Poultry - January 2022 - VDG-1
Meat+Poultry - January 2022 - VDG-2
Meat+Poultry - January 2022 - 1
Meat+Poultry - January 2022 - 2
Meat+Poultry - January 2022 - 3
Meat+Poultry - January 2022 - 4
Meat+Poultry - January 2022 - 5
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https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2024
https://digital.meatpoultry.com/sosland/mp/special-supplement-bacon-trends-technology-march-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-february-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-december-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2023
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-meat-trends-technology-july-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2023
https://digital.meatpoultry.com/sosland/mp/special-supplement-bacon-trends-technology-march-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-february-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-december-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-beef-trends-technology-september-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-meat-alternative-trends-and-technology-may-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-bacon-trends-technology-march-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-february-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2022
https://digital.meatpoultry.com/sosland/mp/-meatpoultry-december-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2021
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-meat-trends-technology-october-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2021
https://digital.meatpoultry.com/sosland/mp/special-supplement-meat-alternatives-may-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2021
https://digital.meatpoultry.com/sosland/mp/2021_02_01
https://digital.meatpoultry.com/sosland/mp/2021_01_01
https://digital.meatpoultry.com/sosland/mp/2020_12_01
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https://www.nxtbook.com/sosland/mp/2018_02_01
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