US meat products maker Hormel Foods has said that it expects earnings for the fourth quarter ending 30 October 2004 to be in the range of 48 to 50 cents per share.

"Better-than-expected turkey markets and strong demand for our value-added turkey products enables us to increase our previous guidance of 40-46 cents per share to 48-50 cents per share," said Joel Johnson, chairman of the board and chief executive officer.

"Jennie-O Turkey Store operating profit will significantly exceed last year's fourth quarter results and provides a great start to 2005," Johnson added.