Pilgrim’s Pride shares rise on corn report

Pilgrim’s Pride Corp. shares surged Thursday on a report from the U.S. Department of Agriculture that forecasts record corn production, the Wall Street Journal reported.

Greeley-based Pilgrim’s shares saw an increase of nearly 6 percent to $7.16 shortly before 2 p.m. eastern time.

Corn production in the United States is expected to rise this year to 14.79 billion bushels, which would smash the previous record of 13.092 billion bushels in 2009. Chicken producers use corn in chicken feed.

Shares of chicken producer Sanderson Farms and ethanol producers Archer Daniels Midland and Green Plains also saw share prices rise.

You have 2 free articles remaining this month.
Want to see more? Login or Subscribe.

Leave a Reply

Your email address will not be published. Required fields are marked *


Social Network

Facebook Icon
Twitter Icon
LinkedIn Icon
©2016 BizWest The contents of this website are copyright BizWest Media, LLC. All rights reserved.
Use of any of this informatino or media on this site is strictly prohibited withotu express written consent.