Market Overview

Hormel Foods Comments On Detection Of Avian Influenza At Turkey Farms


Hormel Foods Corp (NYSE: HRL) announced Monday that highly pathogenic H5N2 avian influenza (HPAI) had been detected at its Jennie-O Turkey unit, impacting multiple turkey farms.

According to the company’s press release, there has been a loss of affected flocks and temporary quarantine of farms in the area until a full cleaning process is completed. Lower turkey supply is expected to impact plant operations and cause reduced sales volumes as the year progresses.

The company also stated that all flocks are tested for influenza prior to processing and that no birds diagnosed with HPAI are allowed to enter the food chain.

“We are experiencing significant challenges in our turkey supply chain due to the recent HPAI outbreaks in Minnesota and Wisconsin,” stated Jeffrey M. Ettinger, chairman of the board, president and chief executive officer.

Hormel Foods dropped in Monday's after-hours session and traded recently at $55.88 in Tuesday's pre-market session, down about 1 percent.

Tyson Foods, Inc. (NYSE: TSN) gained about 0.78 percent Monday, but was actually down 0.75 Tuesday morning. Sanderson Farms, Inc. (NASDAQ: SAFM) was unchanged at $79.25.

Pilgrim's Pride Corporation (NASDAQ: PPC) edged higher Monday to $24.65, up 0.87 percent, while Cal-Maine Foods Inc (NASDAQ: CALM) traded at $40.19, up 0.30 percent, also in the after-hours session.

Posted-In: bird flu chicken Jeffrey M. Ettinger TurkeyNews


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