Meat and wet blue producer Tyson has reported full-year revenues of $52.9 billion for 2022-2023. The reporting period was the 12 months to September 30 this year.

This figure represents a fall of 0.7% compared to the previous year’s total.

Beef contributed $19.3 billion to the total, down by 2.7% year on year.

Quoting the US Department of Agriculture, Tyson warned that beef production in the US will decrease by approximately 5% in the year ahead and, with price adjustments, it calculated that this could lower group revenues by $400 million next year.

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