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  #1   ^
Old Mon, Feb-09-04, 12:10
gotbeer's Avatar
gotbeer gotbeer is offline
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Default "U.S. poultry shares fall as chicken flu prompts bans"

U.S. poultry shares fall as chicken flu prompts bans

Monday February 9, 11:08 am ET


http://biz.yahoo.com/rm/040209/bird...a_stocks_1.html

CHICAGO, Feb 9 (Reuters) - Shares of poultry companies Tyson Foods (NYSE:TSN - News), Pilgrim's Pride (NYSE:PPC - News), and Sanderson Farms (NasdaqNM:SAFM - News) fell sharply on Monday as export markets banned U.S. poultry after avian influenza was discovered in Delaware.

"We are currently in wait-and-see mode until further information on the discovery of AI is revealed," said Leonard Teitelbaum, a food industry analyst with Merrill Lynch.

The United States exports about 15 percent of its chicken production, earning it some $2 billion a year in revenue, Teitelbaum said.

The U.S. Agriculture Department said the strain of avian flu found in Delaware was less severe than the one that has spread through Asia. There was no evidence the Delaware strain transmits to humans, a spokesman said.

Japan and South Korea banned imports of U.S. chicken over the weekend.

Tyson shares were down 57 cents, or 3 percent, at $16.46 on the New York Stock Exchange (News - Websites) on Monday morning and Pilgrim's Pride shares were down $2.07, or 10 percent, at $18.49. In over-the-counter trading Sanderson Farms shares were down $2.84, or 5 percent, at $51.301.

Tyson is the nation's largest chicken producer, Pilgrim's Pride is No. 2, and Sanderson Farms is sixth.
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  #2   ^
Old Mon, Feb-09-04, 16:09
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DebPenny DebPenny is offline
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OK, so how does this affect slaughtered and dressed chicken? It seems to me that this only affects those who might come into contact with the live chickens.
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Old Mon, Feb-09-04, 16:35
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gotbeer gotbeer is offline
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I agree, Deb - this particular strain doesn't seem infectious to humans, and unlike Mad Cow, it can be cooked away.

This scare could be good news for US consumers, especially if export markets dry up. (Such markets close more for political reasons rather than for honest health concerns - health "threats" are merely excuses used for political ends.)

That extra chicken, if dumped onto the US market, would tend to depress the prices consumers pay. Competing meats - beef, pork, and vegantroll (http://forum.lowcarber.org/showthre...517#post1816517) - would face pricing pressure as well.

Poultry & meat stocks fell 2% (TSN - Tyson) to 3% (SAFM - Sanderson Farms), reflecting these pressures. These stocks rebounded nicely from Mad Cow, so buying them on this dip might not be a bad idea. Until they figure out how to stop the Atkins juggernaut, an investment in meat companies looks like a most promising place to put some of one's funds.
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