mus302

Pilgrim's Pride Files Chapter 11: Not a Bailout in Sight

The company has listed several reasons for the situation that they are in including high feed costs, low chicken prices, weak chicken demand, and losses due to significant negative impact of hedged grain positions. And as you mention the debt load from buying Gold Kist. How low would corn prices have to be to overcome those kinds of problems?

I know it is popular these days to blame everything on ethanol but if you ask me the way that ethanol could be at fault is if that was what they were drinking when they made the decisions to incur so much debt and to buy corn when it was at it's peak.