Tuesday, June 29, 2010

Obama Administration Pushing Chicken, Russian Ban of U.S. Poultry Lifted.

Tyson Foods
 Livestock producers have complained loudly over the past few years about the lack of U.S. government support as producers faced challenges from ethanol expansion, rising grain costs, and unstable export markets. We think the news flow from the Obama administration has been uncharacteristically positive over the past few weeks. After years of pain, protein producers are now enjoying something a “sweet spot” in the agribusiness cycle. We maintain neutral ratings on Tyson and Smithfield Foods, however, because we think consensus already reflects the expectation that they will achieve close to peak earnings.

Obama Administration Pushing Chicken
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