Low Meat Prices Cut into Hormel, Sanderson Earnings

Low Meat Prices Cut into Hormel, Sanderson Earnings

Pork and hen provides will proceed to rise as U.S. processing crops increase, meat executives stated, exacerbating near-record manufacturing and storage ranges which have pushed down costs.

Hormel Foods Corp. on Thursday lower its gross sales forecast for this yr because the Spam maker confronts decrease pork costs, tariffs and rising freight prices. Sanderson Farms Inc. reported third-quarter earnings of $11.5 million in contrast with $115.eight million a yr earlier, far under analysts’ expectations.

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