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Cagle's announces first quarter results
Cagle's Inc. recently reported a loss of nearly US$3 mln, despite higher
revenues in the first quarter.
Cagle's reported a loss of $2.99 mln for the first quarter of fiscal year
2009 compared with a profit of $1.53 mln for the first quarter of fiscal
2008.
Revenues for the first quarter were $77.9 mln (+7.04%) due to 13%
additional pounds marketed. Overall revenue per pound for poultry products for
the first quarter of fiscal 2009 was $0.73 compared to $0.78 for the previous
year's quarter.
Quoted market prices for products for the first quarter of fiscal 2009
versus the same period 2008 fluctuated as boneless breast decreased 12%, breast
tenders decreased 22%, wings decreased 26%, drums increased 9%, leg quarters
were 2% higher and whole birds without giblets decreased 2%.
Feed ingredient prices for broilers processed in the first quarter of 2009,
which represented 39% of the total cost of sales, increased 43%.
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Editor WorldPoultry
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