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Ranchers.net

Tyson forecast a second-quarter loss and projected fiscal 2006 income of 50 cents to 80 cents per share.



Analysts had been expecting 2006 earnings of $1.07 per share.



Beef lost $64 million for the quarter and executives said in a conference call that the segment is expected to have steeper losses in the second quarter.



“Beef was ugly,” John Tyson said.



Tyson president and chief operating officer Dick Bond said higher beef prices are not what they seem.



“Demand is not that good,” Bond said. “Prices are high, but supply is what’s driving that, not necessarily demand."


The whole article:

http://www.ellinghuysen.com/news/articles/28052.sh
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