Hatching Chicks an Issue for Pilgrim's Pride -- Market Talk

Dow Jones05-02

1152 ET - Pilgrim's Pride says it's having issues hatching enough chicks, which may limit the ability of the industry to grow to the projected USDA estimates this year. So-called hatchability issues stem from a new type of chicken breed that the company went to after "woody breast issues" several years ago. The new bird is also able to gain more weight faster on less feed, executives said. "I think with that we are seeing a very productive breed, but it comes with a set of challenges and you know that one is the hatchability," says Pilgrim's CEO Fabio Sandri on a call with analysts. Cold storage levels of chicken were down 13% at the end of 2023 from the prior year as chicken supplies thin. For hatchability to change, Sandri says it would need a breeder change, which is structural and takes time and the company hasn't heard about a new breed coming. (patrick.thomas@wsj.com)

(END) Dow Jones Newswires

May 02, 2024 11:52 ET (15:52 GMT)

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The new bird is also able to gain more weight faster on less feed, executives said. \"I think with that we are seeing a very productive breed, but it comes with a set of challenges and you know that one is the hatchability,\" says Pilgrim's CEO Fabio Sandri on a call with analysts. Cold storage levels of chicken were down 13% at the end of 2023 from the prior year as chicken supplies thin. For hatchability to change, Sandri says it would need a breeder change, which is structural and takes time and the company hasn't heard about a new breed coming. 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