Tyson Foods Inc Stock Forecast:
The average analyst target price for Tyson Foods Inc over the next 12 months is USD 66.65, and the average analyst rating is under-perform. However, Stock Target Advisor‘s analysis is slightly bullish, based on 8 positive signals and 5 negative signals. The current stock price is USD 62.49, which has increased by +2.44% over the past week and +7.15% over the past month, but decreased by -32.92% over the last year.
Tyson Foods News:
Tyson Foods, one of the world’s largest meat processors, has announced that it does not expect to resume production until the second week of May at a pork plant in Madison, Nebraska, following a fire that occurred on April 23. The temporary closure of the plant is causing ripple effects throughout the Midwest as Tyson diverts pigs to other processing plants to prevent animals from backing up on farms. The Madison plant typically slaughters approximately 8,250 hogs per day, which accounts for about 2% of daily U.S. hog slaughtering.
The temporary closure of the plant is expected to cause disruptions in the supply chain, and farmers have already reported that some pigs that would normally be slaughtered in Madison are instead being processed at a Tyson plant in Storm Lake, Iowa. As a result, Tyson is also shifting some pigs to a plant in Waterloo, Iowa, that were initially destined for slaughter in Storm Lake. This is causing logistical challenges for the company and its suppliers, who are working to ensure that the animals are transported safely and efficiently.
Tyson Foods has assured its customers that it is doing everything possible to mitigate the impact of the plant closure on the pork supply chain. The company is diverting pigs to other plants, including those in Iowa, and working with farmers to find alternative markets for their animals. The company is also working with its employees in Madison to help them during this difficult time.