Pilgrams Pride near Bankruptcy????

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Auburn_Ag":25qv63ku said:
I know this is cattle board and some could careless about a chicken, however I felt like there would be some interest by some people. In my area chickens and cattle go hand in hand!

http://seekingalpha.com/article/92881-sanderson-farm-ceo-hinting-at-future-pilgrim-s-pride-bankruptcy?source=from_friend
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Disclosure: Author is short PPC, no position in SAFM or TSN
Not that I have a problem with the article, it is well reported that they are having to deal with liquidity problems.
 
i heard about it sunday.i have several friends that are growers for bo.an they say he has already made some changes.1 is grow the birds for 6wks an pick them up.as well as letting you go longer without birds.1 friend went 25 days fore he got birds.an when they brought his birds he got 15000 pre house insted of 16000 pre house.an he has 6 houses so thats 6000 birds less.his dads birds should be picked up sunday.they are on a load by load contract for birds.
 
I began hearing this rumor last week. They are stretched out big time with debt. I sure hope they can pull a rabbit out of their hat, because a lot of folks in this part of the country are tied to them in one way or another.
 
Man, that would be a big one. I guess Tyson or someone would pick up some of their barns and plants, but it could really be a problem in the SE. :o

We're all having problems with feed prices, but at least cattle can graze most of the year here. Chickens and hogs are fed all their lives. Granted it's a short life for most of them, but still.....
 
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No wonder ol' Bo has been running around making political donations. He's getting his name in the hat. They guy is not bashful about stepping over the line and bending ever rule ever made. Should it happen, hopefully it will only be "reorganization".
 
Frankie":3n5bkdkp said:
Man, that would be a big one. I guess Tyson or someone would pick up some of their barns and plants, but it could really be a problem in the SE. :o

We're all having problems with feed prices, but at least cattle can graze most of the year here. Chickens and hogs are fed all their lives. Granted it's a short life for most of them, but still.....
Click to expand...

Hmmm, kind of need a source of credit to do that. Seems like that might be harder to come by after today. Beside the fact they face the same problems that put Pilgrams Pride in the position they are in.
 
1982vett":jlx2zldi said:
Frankie":jlx2zldi said:
Man, that would be a big one. I guess Tyson or someone would pick up some of their barns and plants, but it could really be a problem in the SE. :o

We're all having problems with feed prices, but at least cattle can graze most of the year here. Chickens and hogs are fed all their lives. Granted it's a short life for most of them, but still.....
Click to expand...

Hmmm, kind of need a source of credit to do that. Seems like that might be harder to come by after today. Beside the fact they face the same problems that put Pilgrams Pride in the position they are in.
Click to expand...

Except....Apparently Tyson's has much better management. A lot of these takeovers require very little real capital.
 
If Pilgrims goes under, so would we. But so far, they have given us full loads of chickens and we barely get two weeks between batches.
 
fourstates":6l9byphd said:
If Pilgrims goes under, so would we. But so far, they have given us full loads of chickens and we barely get two weeks between batches.
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Fourstates, I wouldn't worry about them going completely under and ceasing operations. I'm sure you will be fine. They gotta have their growers to generate revenue.
 
fourstates":1gkve4mg said:
If Pilgrims goes under, so would we. But so far, they have given us full loads of chickens and we barely get two weeks between batches.
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Fourstates if there still bringing chicks that quick, just keep plugging away. Over here layout time is 3 to 4 weeks for broilers and they are cutting back on flock counts. Breeder hens are staying out anywhere from 5 to 6 months, where they normally out a month to 45 days.

Like Skyline said you should be ok, this is just a major pot hole in the road, but the road is still there. They will keep a going some way or how, you might be growing for a new company.

Last report I had was that Bo was trying to sell off the hog operations that was acquired in the purchase of Gold Kist. I could not get the name of the potential buyer.
 
Yikes! We have a big Pilgrim's Pride plant here in Waco... but I think they do turkeys. Sanderson's of course came in last year and has almost 600 producers... with BIG mortgages.
 

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