According to Sanderson, market prices for poultry products were higher during the second quarter of fiscal 2012 compared with the same quarter a year ago. As measured by a simple average of the Georgia dock price for whole chickens, prices increased approximately 7.5 percent in the Company's second fiscal quarter compared with the same period in 2011. Bulk leg quarter market prices were 22.4 percent higher compared with last year's second quarter, and reflected continued strong export and demand. Boneless breast meat prices during the second quarter were 2.3 percent higher than the prior year period. Jumbo wing prices were up 121.5 percent for the second quarter of 2012 compared with the same period last year. Prices paid for corn and soybean meal, the Company’s primary feed ingredients, decreased 6.44 percent and 15.19 percent, respectively, compared with the second quarter of fiscal 2011.Sanderson added, “We are pleased with the continued progress at our Kinston, North Carolina, facility. We began processing chickens in January 2011 and this plant is now operating at about 96 percent capacity. We plan to hold that production level for at least the rest of this calendar year.
Sanderson Farms, Inc. Reports Results For Second Quarter Of Fiscal 2012
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts