U.S. chicken producer Sanderson Farms Inc's quarterly results bettered analysts' expectations as steady demand at retail grocery stores helped raise poultry selling prices.
However, Sanderson said the higher prices will not be enough to offset rising input costs in the coming months.
Prices of poultry products increased 8.6 percent in the quarter, the company said.
Sanderson reported a profit of $28.7 million, or $1.25 per share, for the third quarter compared with a loss of $55.7 million, or $2.51 per share, a year earlier.
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