Rising poultry prices have driven first-half profits at US meat processor Sanderson Farms.
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The company posted net income of US$24.1m for the six months to 30 April. The result contrasted with a net loss of $25.3m during the corresponding period a year earlier. Turnover, meanwhile, leapt 37% to $653.2m.
“The improvement in our financial results reflects higher overall prices in the poultry markets compared with both the prior year period and the first fiscal quarter of this year,” said chairman and CEO Joe Sanderson, Jr yesterday (24 May).
He said market conditions had improved steadily throughout the last three months. “Our operations performed well, and our product mix of chill-pack products for the retail market and big bird deboning products for the food service market proved favourable.”
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