Meat&Poultry - September 2011 - 16

Success is a Matter of System

Business Notes
Sanderson Farms suffers 3Q net loss
Sanderson Farms Inc. announced for the third fiscal quarter ended July 31 a net loss of $55.7 million, or $2.51 per share, compared with a net income of $36.1 million, or $1.55 per share, for the third quarter of fi scal 2010. Its net loss for the fi rst nine months of fi scal 2011 totaled $105.5 million, or $4.77 per share, compared with net income of $87.0 million, or $3.96 per share, for the fi rst nine months of last year. Net sales for the third quarter were $511.2 million compared with $489.1 million for the same period a year ago. Net sales for the fi rst nine months of fiscal 2011 were $1,418.2 million compared with $1,396.3 million for the fi rst nine months of fiscal 2010. “Sanderson Farms’ fi nancial results for the third quarter of fiscal 2011 reflect difficult market conditions,” said Joe Sanderson Jr., chairman and CEO. “Market prices for poultry products were significantly lower than last year’s third quarter. While retail grocery store demand has remained steady, foodservice demand remains sluggish and will likely remain that way until the employment market gains traction and consumers regain their confidence and return to restaurants. We also incurred significantly higher costs for corn and soybean meal, our primary feed ingredients, compared with the same period a year ago.” Overall market prices for poultry products were lower in the third quarter of fiscal 2011 compared with prices in the third quarter of fiscal 2010. As measured by a simple average of the Georgia dock price for whole chickens, prices were relatively flat, showing a 0.3 percent decline vs. 3Q of fiscal 2010. “Despite current market conditions, we remain confident in the long-term success of the company,” Sanderson continued. “We continue to operate well and are comfortable with our growth strategy. We are on schedule at our new Kinston, NC, complex and look forward to the new opportunities this plant will provide for Sanderson Farms, our employees, customers and shareholders.” ■

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USDA directive defines egregious inhumane treatment
A defi nition of egregious inhumane treatment is part of a US Dept. of Agriculture directive designed to ensure the humane treatment and slaughter of livestock at FSIS-inspected facilities was issued Aug. 15 by the agency’s Food Safety and Inspection Service. New instructions for inspection program personnel are provided in this directive to ensure that treatment of livestock during handling and slaughter minimizes the animals’ amount of excitement, pain, injury or discomfort. It includes a definition for egregious inhumane treatment. Under this definition, an egregious situation is any act or condition that results in severe harm to animals, which includes the excessive beating or prodding of disabled livestock, stunning animals and allowing them to regain consciousness, or any treatment causing unnecessary pain and suffering. “USDA is deeply committed to ensuring the humane treatment of livestock at federally-inspected establishments,” said Undersecretary for Food Safety, Elisabeth Hagen, Ph.D. “We are honoring that commitment with clear guidance and better training for our inspection program personnel.” ■

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16 • Meat&Poultry • September 2011 • www.MeatPoultry.com

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Meat&Poultry - September 2011

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