Sanderson Farms posted a dip in earnings Monday, with profits of $36.1 million, or $1.55 per share, from $43 million, or $2.06 per share, in the same quarter last year. Revenue declined 3%, to $489.1 million.
Sanderson Farms said the favorable market conditions it experienced in the third quarter, with strong retail demand and lower feed costs, were offset by the extreme heat in its areas of operations, which results in lower weights for kitchens, and therefore fewer pounds sold.
Sanderson as well as chicken-producing peers like Pilgrim's Pride and Tyson have been facing a Russian ban on U.S. chicken, due to the way the chicken is processed here, and the ban has only been partially lifted.
To read the rest of this story please go to: Forbes
