LONDON (ShareCast) - (Sharecast News) - US meat processor Tyson Foods has cut its full-year profit forecast after recent changes to US trade policies and increased tariffs hurt earnings.
Tyson now expects adjusted earnings per share to come in around $5.70 to $6.00, down from the $6.55 to $6.70 the group previously projected.

The company told investors on Monday that the increased volatility seen in global commodity markets as a result of Donald Trump's tit-for-tat tariffs with China has led to a larger-than-expected rise in domestic supplies and lower sale prices of beef and pork.

The price of chicken has also taken a hit across the United States as traditionally more expensive alternatives became more affordable following China's 25% duty on American pork items in response to the White House's move to slap tariffs on Chinese steel and aluminium products.

"We still face pressure on chicken sales volume and pricing due to the abundance of relatively low-priced beef and pork on the market," said Tyson's chief executive officer Tom Hayes.

"Our fourth quarter is off to a slower than expected start driven primarily by market-related factors," Hayes added.

As of 1440 BST, Tyson shares had lost 7% to $59.11 each.

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