NEWS
Sanderson Farms Reports 1Q Loss
Thu Feb 21, 2013 07:36 AM CST

(Dow Jones) -- Sanderson Farms Inc.'s (SAFM) first-quarter loss narrowed as the poultry producer recorded higher revenue, although it continued to grapple with rising grain costs, pushing results well below Street estimates.

Sanderson has seen its profits pressured by record-high prices for corn and soybeans, which form the bulk of its poultry feed. However, as with others in the industry, Sanderson reduced its chicken production last year, which has led to gains in chicken prices.

"Our results for the first quarter of fiscal 2013 reflect improving, but still challenging, conditions for our industry," Chief Executive Joe F. Sanderson Jr. said. ...

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