Laurel, MS - Sanderson Farms Inc., a producer and processor of chickens and prepared foods, said on Thursday that the company expects a large supply of competing meats and continued weakness in the export market.
“Although we are pleased with the company's performance in the second quarter, the industry will still face a large supply of competing meats and continued softness in the export market during the coming months,” Joe Sanderson Jr. said in a statement.
The company reported a profit of $2.3 million in the second quarter ended April 30, compared with a loss of $751,000 in last year's period.
Sanderson said improved efficiency and favorable prices for feed grains more than offset a decline in poultry prices for the quarter.
Meat Industry Insights News Service
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Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
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