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To: Wizard who wrote (461)	3/21/2001 3:23:22 PM
From: Wizard	Respond to of 499

Overcapacity is present everywhere; -- =DJ Piper Cuts Tyson -2: Cites Too Many Chickens >TSN -- DES MOINES, Iowa (Dow Jones)--U.S. Bancorp's Piper Jaffray unit cut its earnings outlook for Tyson Foods Inc. (TSN) Wednesday to 42 cents a share from 61 cents for fiscal 2001 ending in September because of an oversupply of chickens. Analyst George S. Dahlman also cut his estimate for Tyson's fiscal second quarter to break-even from 9 cents a share. Tyson is the country's largest poultry producer. Based on "what continues to appear as an oversupplied chicken market with no near-term turnaround catalysts in sight," the analyst also cut his earnings estimates for the fiscal third and fourth quarters. He now expects Tyson will earn 15 cents a share in each of the quarters. Previously, he estimated Tyson would earn 20 cents in each of the quarters. "Anything short of a 'mad cow' or 'foot-and-mouth' outbreak in the United States will not likely provide a necessary short-term catalyst," Dahlman wrote. He continues to rate the stock "neutral" with a $13 price target. Analysts polled by Thomson Financial/First Call estimate Tyson will earn 9 cents a share for the second quarter and 54 cents a share for the year. Dahlman told clients he wouldn't be surprised if Tyson lowered its earlier bid of $30 a share for IBP Inc. (IBP) by $3 to $4 because of IBP's expectations that it will earn less this year than it previously estimated. -By Richard Gibson, Dow Jones Newswires; 515-282-6830; dick.gibson@dowjones.com (END) DOW JONES NEWS 03-21-01 03:14 PM- - 03 14 PM EST 03-21-01