Tuesday, May 02, 2006
Significant Losses In The US Chicken Industry
I know Brazilian producers are taking a major hit as well. I think many of them have shut down plants.
Tyson Foods Inc., the nation's largest producer of chickens, on Monday reported its largest quarterly loss in more than a decade as concerns about avian flu and mad cow diseases hurt
exports.The company reported it lost $127 million, or 37 cents per share, in the first quarter compared with a net profit of $76 million, or 21 cents per share, in the same period a year ago.
The nation's two other large chicken producers, Pilgrim's Pride Corp. of Pittsburgh, Texas, and Gold Kist Inc. of Atlanta are also expected to report huge losses later this week. Pilgrim's Pride and Gold Kist are each expected to report losses of as much as 32 cents, according to
The economic repurcussions of even an Avian Flu scare have yet to be understood.
As an example, Home Depot has been out of face masks for a couple of momths now. They have bought and sent overseas up by American relatives of people where access to such basics is impossible.
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