Beyond Meat Inc (BYND)

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Market Chatter: Tyson Foods, Beyond Meat Shares Climb as Germany Reports First Confirmed Case of African Swine Fever
2020-09-10 03:32:57 PM ET (MT Newswires)
   
   
03:32 PM EDT, 09/10/2020 (MT Newswires) -- Tyson Foods (TSN), Pilgrim's Pride (PPC) and Beyond Meat (BYND) saw their shares rise after Germany confirmed the first case of swine flu in the country, bolstering demand for exports as well as increasing prices on other types of meat.

Meat processor Tyson Foods rose 3.2%, while chicken producer Pilgrim's Pride climbed 3.7%. Beyond Meat, which provides meat alternatives, also benefited from the news, seeing gains of almost 3% as the development reportedly threatens to affect exports from Europe's largest hog-producing country, according to Bloomberg News.

The confirmed case of African swine fever was identified in the eastern state of Brandenburg and was detected in the corpse of a wild boar that was discovered near the Polish border, according to the report, citing Agriculture Minister Julia Kloeckner at a briefing in Berlin. The virus reportedly kills the majority of infected pigs within 10 days, but is not lethal to humans.