Feed costs cut Cal-Maine profits

Cal-Maine Foods Inc.'s earnings fell as the producer of eggs and egg products reported feed costs jumped 16 percent and selling prices eased. The owner of Eggland's Best and Farmhouse egg brands was hit by a nationwide egg recall and higher feed costs that hurt profit last year, though sales improved as prices recovered from the recession's slumping levels.

President and Chief Executive Dolph Baker said retail demand remained strong and higher-priced speciality-egg sales continued to grow, accounting for nearly 24 percent of revenue and nearly 18 percent of total numbers sold. For the quarter ended February 26, the world's largest egg producer and distributor reported a profit of US$33.6 million (€23.852 million), down 2.7 percent from US$34.5 million (€24.491 million)a year earlier. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.