April 3, 2007

Pilgrim's Pride stays committed to lower production

US-based Pilgrim's Pride Corp. said it would maintain a 5 percent cut in production at its poultry processing facilities across the country.

Although domestic farmers are expected to sow more than 90 million acres of corn in 2007, CEO O.B. Goolsby said higher feed ingredient prices have posed a challenge to the company's operations in the short term, hence justifying the need to continue with reduced production.

Rising corn demand for ethanol production has pushed up prices of the grain, which is also used in animal feed.