1658 ET - Consumer demand for chicken remains hot as the second largest chicken company, Pilgrim's Pride, said poultry remains a better bargain than competing meats. The company posted a 5% rise in sales for the three months that ended Sept. 29 and a profit of $350 million, above what Wall Street analysts were expecting. Chicken companies are benefiting from falling grain prices, making it cheaper to feed their birds. Pilgrim's, which is owned by meatpacking giant JBS, said demand from its restaurant and grocery store customers for its pre-cooked and smaller chicken products was also up. "The relative affordability and availability of chicken drove increased demand across retail and food service," CEO Fabio Sandri said in an earnings statement. (patrick.thomas@wsj.com)
(END) Dow Jones Newswires
October 30, 2024 16:59 ET (20:59 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。