Tyson Foods, reported that its first-quarter profit slid 40% and said that it would increase prices to offset the higher cost of commodities used to feed cattle, chickens and pigs. Tyson said it expected more than $500 million in additional grain costs this year, well above the $300 million increase it forecast in November.

Tyson had sales of $6.8 billion for the quarter, up from $6.6 billion a year ago. The company earned $34 million in the period ended Dec. 29, down from $57 million in the year-ago quarter.

“Because of these unanticipated and extraordinarily high corn and soybean meal costs, we have no choice but to raise prices substantially,” the chief executive, Richard L. Bond, said. “For the foreseeable future, consumers will pay more and more for food, especially protein.”

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