Tyson Foods cut its profit forecast for a second time within a month and also lowered its annual sales target, blaming increased pressure in its beef segment due to expected weak cattle prices.
Last week, U.S. President Donald Trump signed a proclamation to temporarily increase imports of lean beef trimmings at a lower tariff rate to tackle higher beef prices that touched a record high this year due to a severe shortage in cattle supply in the face of drought and wildfires.
