Packer and tanning group Tyson Foods has reported revenues of almost $13.3 billion for the first quarter of its current financial year, the three-month period ending December 31, 2022.

This figure represented an increase of 2.5% compared to the same quarter a year earlier, but there was a fall in Tyson’s revenues from beef.

Beef was still the group’s biggest business category, with revenues of more than $4.7 billion, but beef revenues were down by more than 5.5% year on year.

Tyson quoted the US Department of Agriculture as saying there is likely to be a fall of 5% in beef production in the US in the course of the company’s current fiscal year.

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