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Sanderson Farms delays poultry plant construction

Sanderson Farms Inc. said Thursday it will not start construction on a planned $126.5 million poultry factory because higher costs have strained its budget.

The Laurel, Miss., chicken company had announced in April plans to build a plant in Kinston, N.C. "In light of escalating prices for corn and soybean meal, our primary feed ingredients, it has become increasingly difficult to predict our future input costs," the company said in a statement.

Sanderson Farms shares fell 79 cents, or 2 percent, to $38.43 in midday trading. In the past year, the stock has ranged from 427.80 to $50.45. 

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