This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hormel Says Bird Flu Outbreak Will Hurt Turkey Sales This Year

4/21/15 9:30 AM EDT
Hormel says it will sell less turkey this year because of a spreading bird flu outbreak. So far the virus has been found at farms housing 2.3 million turkeys, all of which have died of the disease, or have been killed or soon will be in order to stem the spread of avian flu. Most of the birds were in Minnesota, which is the largest turkey-producing state in the U.S. Big commercial farms have been hit hard, and Hormel said Monday it is experiencing significant turkey supply-chain problems. It expects outbreaks to decrease as the weather improves. Both Hormel and its Jennie-O Turkey Store division are based in Minnesota. Hormel Foods Corp., citing its upcoming second-quarter report, said Monday that it can't comment on how turkey prices or the Thanksgiving turkey season will be affected. It is scheduled to report its earnings May 20 and said it will provide more details about its turkey business then. According to a Jennie-O Turkey Store website, the highly contagious H5N2 strain of avian flu has been confirmed at 19 farms that are either independent contract growers for Jennie-O or are company-owned. All but one of those are in Minnesota. The virus has been found in turkey flocks in six states. Scientists believe domestic poultry are getting the virus from wild migratory waterfowl, although security measures at farms are supposed to minimize the chances that will happen. Once the virus is confirmed at a particular farm, all of the turkeys at that farm are killed and the location is closed for a full cleaning. Hormel says all of its flocks are tested for the virus. About 46 million turkeys are raised in Minnesota annually. It's not clear why that state has been particularly hard-hit by the disease. About 235 million turkeys were produced in the U.S. last year. On Monday, the U.S. Department of Agriculture said the virus was also found at an Iowa farm holding 5.3 million hens, or almost 10 percent of the state's egg-laying chickens.
Stocks in this video: HRL
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV

Brokerage Partners

Top Rated Stocks Top Rated Funds Top Rated ETFs