perhaps not surprising anyone, is the recent report by Pilgrim's Pride that increases the price of feed ingredients is causing an increase in the price of chicken, and a decline in the profits of poultry companies. PP estimates that:
while yesterday's egg market report looks stable over the last week or so ... we were shocked to find the price of 1.5 dozen (that's 18 to the math-challenged) large, grade A eggs to be $1.89 at Weis!
... it would take a 10 percent increase in chicken prices to offset higher feed costs, which are likely to keep rising. But the company has had a tough time passing along the higher costs to customers, such as grocery stores and restaurant suppliers.Certainly, this is happening to most chicken producers. Even Tyson Foods has announced higher prices.
while yesterday's egg market report looks stable over the last week or so ... we were shocked to find the price of 1.5 dozen (that's 18 to the math-challenged) large, grade A eggs to be $1.89 at Weis!
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The price of feed is having a huge impact on everything its amazing. I wish I entered into that business a few years ago. One of the main reasons I have found Grain prices going up is because of energy costs. 25% of corn this year will be processed into fuel. This creates a larger fighting demand on the grain which raises the price and increases the price for combating farmers whom must raise the price of their products. Its astounding how much the energy crisis today effects EVERYTHING including the Agricultural Market.
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