Sanderson Farms Inc. (SAFM:US) Chief Operating Officer Lampkin Butts said this summer “looks like it will be a good market” for chicken, helped by rising prices for other meats.
Most chicken firms are profitable after prices improved, he said today at a chicken industry conference in North Carolina. Higher costs for animal feed such as corn and soybean meal and the worst U.S drought since the 1930s have shrunk beef cattle herds and consumers are starting to buy more chicken.
“We are feeling better demand,” Butts said today in a presentation. “Our customers attribute that to the price of beef and pork.”
To contact the reporter on this story: Shruti Date Singh in Chicago at email@example.com
To contact the editor responsible for this story: Simon Casey at firstname.lastname@example.org