Price hikes are expected to increase by an average of 1.8 percent compared to last year’s 1.65 percent.
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Rising beef prices which topped $200 multiple times throughout the last months of 2013 helped Tyson Foods beat its first-quarter target.

Reuters reports the largest U.S. meat processor sold more beef at higher prices in the first quarter as retail demand improved.

Tyson’s first quarter beef sales, which ended Dec. 28, increased seven percent to $3.73 billion. Total revenue increased by five percent to $8.76 billion. The meat processor expects sales to reach about $36 billion during the fiscal year.