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Stock Market & Financial Investment News

News Breaks
December 17, 2013
11:27 EDTSAFMSanderson Farms expects to process 3.13B pounds of chicken in FY14
Says FY13 financial results put company in position to resume growth strategy for FY14. In FY14, the company expects to process 3.13B pounds of chicken, which is a 2.5% increase of pounds processed compared to FY13. Sees FY14 CapEx $58M, modeling an effective tax rate of 34.9%. Expects to spend $110M in FY14 for new Texas facility and expects to spend $140M overall for the new facility. The company sees the cost of grain in FY14 $194M lower than in FY13. Sees market conditions for next year continuing to reflect weakness in consumer spending. Comments made during the company's Q4 earnings conference call.
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April 9, 2014
12:07 EDTSAFMU.S. red meat, poultry production forecast lowered
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