Pilgrims Pride Corp

NASDAQ:PPCUnited States

May 2, 2024

Show headlines and story abstract

• DJ Hatching Chicks an Issue for Pilgrim's Pride -- Market Talk, from 11:52AM ET on Thursday May 02, 2024 by Dow Jones

  11:52AM ET on Thursday May 02, 2024 by Dow Jones
  Companies Mentioned: PPC
  
  1152 ET - Pilgrim's Pride says it's having issues hatching enough chicks, which may limit the ability of the industry to grow to the projected USDA estimates this year. So-called hatchability issues stem from a new type of chicken breed that the company went to after "woody breast issues" several years ago. The new bird is also able to gain more weight faster on less feed, executives said. "I think with that we are seeing a very productive breed, but it comes with a set of challenges and you know that one is the hatchability," says Pilgrim's CEO Fabio Sandri on a call with analysts. Cold storage levels of chicken were down 13% at the end of 2023 from the prior year as chicken supplies thin. For hatchability to change, Sandri says it would need a breeder change, which is structural and takes time and the company hasn't heard about a new breed coming. (patrick.thomas@wsj.com)
  

• DJ Pilgrim's Pride: Frozen Tenders and Fast Food Chicken in High Demand -- Market Talk, from 11:33AM ET on Thursday May 02, 2024 by Dow Jones

  11:33AM ET on Thursday May 02, 2024 by Dow Jones
  Companies Mentioned: PPC
  
  1133 ET - The second-largest chicken processor, Pilgrim's Pride, says chicken demand is starting to outstrip supply, a year after a glut of chicken on the market squeezed processors. Sales of frozen, processed chicken, like tenders and nuggets, are in high demand at grocery stores. Sales at fast food chains are up 6% from the prior year even as foot traffic declines. Executives of Pilgrim's, which is owned by meatpacking giant JBS, say that consumers are trading down to chicken offerings on menus and to cheaper fast food chains from other restaurants. "What we are seeing is the bigger penetration of the chicken offerings, because I think they provide the value," CEO Fabio Sandri says on a call with analysts. He added chicken is a bargain to customers compared with pricer beef options. (patrick.thomas@wsj.com)
  

• Sector Update: Consumer Stocks Mixed Pre-Bell Thursday, from 9:10AM ET on Thursday May 02, 2024 by MT Newswires

  9:10AM ET on Thursday May 02, 2024 by MT Newswires
  Companies Mentioned: PPC, XLP, XLY, PTON, ETSY
  09:10 AM EDT, 05/02/2024 (MT Newswires) -- Consumer stocks were mixed pre-bell Thursday with the Consumer Staples Select Sector SPDR Fund (XLP) recently inactive and the Consumer Discretionary Select Sector SPDR Fund (XLY) 0.9% higher. Etsy (ETSY) ...