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Print ArticleSan Francisco: Pilgrim's Pride has announced that it will reduce its weekly chicken processing by five percent. The cutback is scheduled to take place in June. The company has cited the rising cost of feed grain as the reason for its decision. For its fiscal year that ends in September, Pilgrim's Pride estimates its total costs for corn and soybean meal will be $1.3 billion higher than 2006.
For the quarter ended Dec. 29, 2007, the company lost $32.3 million.
The announcement follows its previous decision to shut down its chicken processing plant in Siler City, NC. Another processing site in El Dorado, AR may be closed, but a final decision is still pending. It also has plans to close approximately six distribution centers.
Last month, Pilgrim’s Pride announced that it had sold its turkey business.