Tyson, the US meat producer, on Wednesday warned that rising cattle and pig prices would lead it to miss its full-year earnings target in spite of efforts to pass on rising commodity costs to consumers.

The company also said a lingering trade dispute with South Korea was denting exports, although expressed confidence that its restructuring plan would leave it profitable in its fiscal fourth quarter and financial year to September 30. Its shares fell 11 per cent to $19.58 by midday in New York.