In the latest example of the financial strains of the poultry industry, JBS USA unit Pilgrim’s Pride announced it would close its chicken-processing plant in Dallas by Sept. 30, affecting about 1,000 hourly and salaried employees.
Pilgrim’s Pride President and CEO Bill Lovette released the following statement:
“While the decision to close a plant and eliminate jobs is always painful, we must make better use of our assets given the challenges facing our industry from record-high feed costs and an oversupply of chicken.
“We're simply going to grow larger birds in houses for two of those plants and then shift production to another complex in that area as well,” Lovette told analysts on a conference call following Pilgrim’s Pride’s second quarter results.
My poultry pricing has stayed level. In contrast to the increases in red meat, which has risen. In some cases, my red meat cost has increased up to 53% within the last 9 months.