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STOP PRESS

11/02/2018

The following breaking items are of interest to the poultry industry and will be considered in subsequent editions of EGG-NEWS and CHICK-NEWS:

  • Pilgrim's Pride posts lower sales and sharply diminished earnings: The October 31st release by Pilgrim's Pride Corp. on the third quarter denoted a 3.2 percent decline in revenue compared to Q3 2017 to $2.7 billion. Net earnings of $29.3 million contrasted with $232.7 million in the corresponding quarter of 2017. EPS was reduced proportionately to $0.12 in the most recent quarter from $0.93 in Q3 of 2017. The Company attributed the decline in performance to "weak pricing"

  • Zacky Farms to cease operations: The Company has undergone successive restructuring and refinancing but has been removed from life support and will wind down operations by mid-January 2018.

  • Zoetis achieves exceptional results for Q3: In a November 1st press release multinational biopharmaceutical manufacturer Zoetis earned $347 million on sales of $1.5 billion. Poultry products comprising vaccines, diagnostics and pharmaceuticals represented 8.8 percent of worldwide revenue.

  • Idexx achieves sales and profit from companion animal market: Although a groundbreaker in poultry diagnostic technology introducing ELISA assay systems 35 years ago Idexx has transitioned to companion animals. In the third quarter of 2018 Idexx earned $93 million on sales of $545 million reflecting higher margins in pets. The Livestock/poultry/dairy segment represented 5.3 percent of sales and contributed 3.4 percent of operating profit.

  • Proponents of California Proposition #12 raise tenfold more than opposition: The coalition of animal welfare groups including the ASPCA and HSUS supported by the State Democratic Party, United farm Workers and the Sierra Club have raised over $1.6 million as of September 28 th compared to less than $0.6 million for groups advocating a NO vote. A positive vote as expected will phase out confined housing for livestock including hens allowing aviary and floor systems for production of eggs produced or transported into the State.