Aug 5 Reuters Tyson Foods surpassed Wall Street expectations for thirdquarter revenue and profit on Monday as sales of meat products rebounded while lower grain prices reduced costs for animal feed.

The company39;s sales fell in 2023, but it has been helped by some customers buying more at grocery stores as higher costs for dining out push people to cook more meals at home.

The U.S. meat packer39;s net sales rose 1.6 to 13.35 billion in the quarter, compared with analysts39; estimates of 13.24 billion. It continues to expect fullyear revenue to be flat compared to fiscal 2023.

The company39;s beef segment its largest saw volumes up 4.4, building on the last quarter39;s 2.8 growth driven by higher average carcass weights. Prices in the segment also rose 1.4 as it continued to grapple with limited cattle supply.

Still, sales in Tyson39;s chicken segment, which struggled with an excess of supply during 2023, were down 3.2 in the quarter, while prices also dropped 3.7. Previously, Tyson said it had lowered production to align supplies with consumer demand.

Tyson raised its forecast for adjusted operating income from chicken to 850 million to 950 million for fiscal 2024 from a previous forecast of 700 million to 900 million.

U.S. corn and soy futures prices have fallen near fouryear lows due to ample supplies, making it less expensive for Tyson to fatten poultry.

Tyson also raised its projection for adjusted operating income in its pork business after the unit…