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Meat giants share high expectations
Recent reports show the livestock business is in fairly good shape. And now, further proof of the sustainability of that strength comes in reports from 2 giants in the processing and retail sector on Friday.
Smithfield Foods and Tyson Foods are both climbing out of earnings holes from last year, with the former still down 4.7% (per stock share) from a year ago but still having climbed 3.8% recently, according to a report from Dow Jones Newswires.
More important than the companies' resurgence alone, however, is how it's happened. Exports remain strong and analysts say they should throughout 2012. But, more importantly, the companies' earnings -- especially Tyson -- "demonstrated the company's ability to pass on higher commodity costs to customers," according to a Dow Jones Newswires report.