Tyson Warns Input Prices Are Rising Faster Than They Can Raise, More Job Openings Than Unemployed

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Tyson's CEO Donnie King said higher costs are hitting the firm faster than the company can lift prices, and retail prices are set to rise on Sept. 5.
King must have had a mental lapse during the earnings call because the word "transitory" was not part of the conversation.
Everything from fuel to labor to raw materials (corn and soybeans) to shipping to other inputs critical for livestock farming has exponentially risen over the last year.
not even the most optimistic whispers - was prepared for the shocking 10.073 million job openings that hit the tape at 10am ET sharp. This unprecedented number of job openings was made possible as more than 3.3 million openings were added in the past 6 months, with every single month of 2021 seeing an increase in job openings, the longest such stretch in history.

None of this should be a surprise as we've referenced two BofA reports that suggested "transitory" hyperinflation is not just ahead but has arrived.

In May, BofA said, "Buckle up! Inflation is here," and showed a chart of the number of mentions of "inflation" during earnings calls which exploded, more than tripling YoY per company so far, and the most significant jump in history since BofA started keeping records in 2004.