Tyson Foods is one of the largest protein companies in the world, processing and selling beef, pork, chicken, and branded prepared foods to grocery retailers, warehouse clubs, foodservice operators, and restaurant chains, with Walmart alone accounting for roughly 19% of sales. Tyson operates four segments: Beef, Chicken, Pork, and Prepared Foods. The Beef and Pork segments are commodity businesses where Tyson earns a spread between the cost of live animals and the price of fabricated cuts sold to customers — spreads that fluctuate with cattle and hog supply cycles. The Chicken segment is fully vertically integrated, from breeding stock through processing and distribution, with profitability driven by the spread between chicken prices and feed costs (primarily corn and soybean meal). The Prepared Foods segment operates more like a traditional consumer packaged goods business, selling branded products under Jimmy Dean, Hillshire Farm, Ball Park, and other labels at a significant premium to raw ingredient costs. Tyson's core strategy is to shift its portfolio mix toward higher-margin, more stable businesses — converting commodity protein volumes into value-added and branded products — while reducing plant-level costs across all segments. Tyson also exports to approximately 140 countries and operates internationally across Asia and the Middle East.