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Tyson’s profit shrinks in drought

Arkansas-based Tyson is the largest US meat processor. Its shares fell the most in 22 months on Monday.

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Arkansas-based Tyson is the largest US meat processor. Its shares fell the most in 22 months on Monday.

Tyson Foods Inc. cut its full-year sales forecast and said profit will be lower after the cost of animal feed rose because of the country’s drought. Revenue will be $33 billion in the year through September; the previous prediction was $34 billion. Tyson did not give
a specific forecast for full- year earnings. In May, it said profit might be $2 a share.