Index
Grain prices down, poultry processor stocks up
// 06 Aug 2008
Traders have reacted positively to the prospect of
lower feed prices as a result of falling prices of grains and
soybeans.
As a result, shares of major publicly-traded poultry and meat processors
soared.
Pilgrim's Pride shares rose 18% ($14.59/share), Smithfield Foods shares
went up nearly 11% ($24.66/share), and Tyson Foods shares were up over 7%
($16.13/share).
Corn futures prices, which have surged, have fell 12% over the past four
sessions at the Chicago Board of Trade, after having surged 59% in the past
year. Soybeans, which rose 56% in the past year, fell by over 8%.
Related links:
Mail a friend
Print
