Rita Jane Gabbett reports for MeatingPlace, "The chicken industry needs to cut production by 1 percent to 2 percent to return to profitability and cut by 2 percent to 3 percent to return to normalized levels of profit, a Wall Street analyst predicted."
The analyst was Heather Jones of BB&T Capital Markets. In a report on Pilgrim's Pride, she "painted a grim picture of the chicken industry in general, predicting continued high feed prices and sluggish demand and noting the industry has been slow to respond to a market in which producers are already losing money," Gabbett writes. (Read more; subscription may be required)
The analyst was Heather Jones of BB&T Capital Markets. In a report on Pilgrim's Pride, she "painted a grim picture of the chicken industry in general, predicting continued high feed prices and sluggish demand and noting the industry has been slow to respond to a market in which producers are already losing money," Gabbett writes. (Read more; subscription may be required)
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