May 6 (Reuters) - Tyson Foods ( TSN ) surpassed Wall

Street expectations for second-quarter profit on Monday, as it

begins to reap the benefits of shutting some chicken processing

plants to reduce costs.

The biggest U.S. meat company by sales has shuttered six

U.S. chicken plants since the start of last year, laid off

corporate employees and announced plans to close a pork plant,

in an attempt to rein in costs.

That helped it post adjusted earnings of 62 cents per share

for the second quarter, compared with analysts' average estimate

of 39 cents, based on LSEG data.

However, it has been grappling with slowing demand over the

last few quarters as price-conscious customers cut back on

expensive purchases and look for affordable options amid

still-high food prices and borrowing costs.

Tyson's second-quarter net sales fell 0.5% to $13.07

billion, compared with estimates of $13.16 billion.

Sales in the chicken segment, which struggled with excess

supply during 2023, were down 8.3% in the quarter even though

prices fell 2.1%. Volumes dropped by 6.1%.

On the other hand, volumes at the beef segment - its largest

- grew for the first time in five quarters, logging a 2.8%

increase. The company's pork segment also saw volumes increase

by 2.9%.

In the quarter, the operating margin in Tyson's beef

business dropped by 0.7%. The business has grappled with limited

U.S. cattle supplies since last year.

Tyson, the maker of Ball Park hotdogs, said it continues to

expect total sales to be flat in fiscal 2024, compared with the

previous year's $52.88 billion.