Record chicken prices squeeze US shoppers, benefit Tyson Foods

Chicken prices have hit record highs and will likely stay elevated at U.S. grocery stores as Tyson Foods and other companies reduce production to boost margins.

The move is intended to boost margins while shoppers opt for chicken instead of beef or pork.

The higher prices are expected to improve earnings for top producers Tyson (NYSE: TSN) and Pilgrim’s Pride (Nasdaq: PPC). Chicken producer profit margins are at their highest in a year, according to one index.

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