Market Overview

Poultry Producer Stocks Sink On Bird Flu Confirmations

Poultry Producer Stocks Sink On Bird Flu Confirmations

Poultry producers' shares fell Tuesday after federal farming officials confirmed avian influenza in a commercial turkey flock in Boone County, Arkansas.

Tyson Foods, Inc. (NYSE: TSN) fell more than 4 percent to $37.92, while Sanderson Farms, Inc. (NASDAQ: SAFM) traded down about 5.5 percent to $77.94.

Pilgrim's Pride Corporation (NASDAQ: PPC) dropped 7.9 percent to $24.42.

Earlier Tuesday, officials also confirmed avian flu virus in two separate commercial turkey flocks in Missouri.

The reports, from the Department of Agriculture's Animal and Plant Health Inspection Service, said health officials consider the risk to people from these infections to be low.

Shares of vaccine makers appeared unaffected Tuesday.

Arkansas poultry was temporarily banned in Russia, China, Japan and Hong Kong in 2013 in the wake of a large bird flu outbreak.

Tyson shares are off more than 10 percent since McDonald's Corporation (NYSE: MCD) said last week it will phase out the use of antibiotics in chicken products. Antibiotics don't affect influenza.

Tyson told Reuters Tuesday it is reducing the amount of the drugs it uses in chicken feed.

Image credit: Public Domain

Posted-In: bird flu poultryNews Health Care FDA Intraday Update General Best of Benzinga


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