Fly News Breaks for March 11, 2015
SAFM, PPC, HRL, TSN
Mar 11, 2015 | 10:41 EDT
In a note to investors earlier this morning, Stephens discussed the potential for a high path avian influenza outbreak that has been spreading in the U.S. to impact pricing of chicken, noting that the degree of impact will be influenced by the spread of the disease to more areas and Mexico's decisions regarding bans due to the outbreak. The firm said it thinks additional bans would have a negative effect on leg quarter pricing, which it previously believed would rally seasonally. If Mexico enacts more bans, the firm said its checks indicated pricing will likely go down. Publicly traded chicken producers include Tyson Foods (TSN), Hormel Foods (HRL), Pilgrim's Pride (PPC) and Sanderson Farms (SAFM).
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