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Cal-Maine Foods Reports Second Quarter Fiscal 2021 Results
Cal-Maine Foods, Inc. reported results for the second quarter of fiscal 2021 (thirteen weeks) and twenty-six-week period ended November 28, 2020.
Net sales for the second quarter of fiscal 2021 were $347.3 million, an 11.5 percent increase compared to $311.5 million for the second quarter of fiscal 2020. The Company reported net income of $12.2 million, or $0.25 per basic and diluted share, for the second quarter of fiscal 2021, compared to a net loss of $10.1 million, or...
REPORTER: Egg Product Markets Rally to Second Half Highs
Though retail demand for shell eggs has run significantly above average since the peak pandemic period, foodservice demand has struggled to return to normal volumes. As much as 22% of all U.S. production is destined for this channel, around 7% being shell eggs and the rest going into the sector in the form of egg products.
Processors have been forced to reduce outputs over the last eight months, evident in the USDA’s Eggs Processed Under Federal Inspection report, which showed total cases broken running at about 1.1 million a week from...
Cal-Maine Foods Announces $40.1 Million Capital Project to Expand Cage-Free Production in Kentucky
Cal-Maine Foods announced that its Board of Directors has approved a $40.1 million capital project to expand the Company’s cage-free egg production at its Guthrie, Kentucky, production facility. The project will include related site work and the additional infrastructure to convert existing conventional capacity to house approximately 1.5 million cage-free hens and 300,000 pullets.
Construction will commence immediately with initial conversions expected in early 2021, first pullet placements by summer 2021 and the first layer house finished by fall 2021. Project completion is expected by...
ANALYSIS: Egg Product Market Comes to LifeThough retail demand for shell eggs has run significantly above norms since the peak pandemic period, foodservice demand has struggled to...
ANALYSIS: U.S. Shell Egg Production Climbs as Suppliers Prepare for Seasonal Demand Increases
The USDA’s monthly Chicken and Eggs Report released this afternoon shows the number of hens laying table-type eggs in the U.S. rose...
Cal-Maine Foods Reports First Quarter Fiscal 2021 Results
Cal-Maine Foods, Inc. reported results for the first quarter of fiscal 2021 (13 weeks) ended August 29, 2020.
Net sales for the first quarter of fiscal 2021 were $292.8 million, a 21.4 percent increase compared to $241.2 million for the first quarter of fiscal 2020. The Company reported a net loss of $19.4 million, or $0.40 per basic and diluted share, for the first quarter of fiscal 2021, compared to a net loss of $45.8 million, or $0.94 per basic and diluted share, for the first quarter of fiscal 2020.
Dolph Baker, chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “Our results for the first quarter of fiscal 2021 reflect continued challenging market conditions as we proactively monitor and...
Cal-Maine Foods Lawsuit Dismissed in State of Texas
Cal-Maine Foods, Inc. issued the following statement regarding dismissal of the State of Texas lawsuit alleging that the Company engaged in price-gouging during the COVID-19 pandemic.
"The Company’s motion to dismiss was granted on August 13, 2020, in the District Court of Harris County, Texas, and therefore the original petition has been dismissed with prejudice. We are grateful the Court dismissed with prejudice all claims brought by...
Ovostar Reports Operational Results for the First Half of 2020
Ovostar Union Public Company Limited, a vertically integrated holding company, one of the leading egg and egg products producer in Ukraine, announced its operational results for the six months ended 30 June 2020.
As of 30 June 2020 the Company’s total flock equaled 8.24 mln hens, including 6.91 laying hens (30 June 2019: 7.56 and 6.51 mln hens respectively).
The volume of eggs produced in H1 2020 was 793 mln demonstarting 1% increase YoY (H1 2019: 782 mln). In the reporting period the sales volume in the egg segment totaled...
ANALYSIS: Shell Egg Prices Come Under Pressure as Retail Demand Slips, Supplies Mount
U.S. shell egg prices are coming under pressure once again as retail demand begins to ease and supplies become increasingly available. After holding steady for...
ANALYSIS: Shell-Egg Prices Jump to Three-Month High Amid Coronavirus Fears, Production Cuts
U.S. shell egg prices jumped to a three-month high yesterday amid reduced outputs and a surge in retail demand, spurred – at least in part – by fears related to...
Carrefour Introduces a Method for Avoiding Male Chicks to Be Culled
As part of its food transition plan, Carrefour and Loué have entered into a partnership to produce and sell eggs laid by chickens produced using a spectrophotometric in-ovo sexing technique. Consumers will be able to purchase the products from 1 May.
This is another step forward for animal welfare, and Carrefour is involving players across the sector in identifying and developing the best in-ovo sexing techniques in France. As soon as a concerted solution that can be industrialized has been identified, Carrefour will commit to...
ANALYSIS: Cage-Free Production Declines for First Time Since USDA Began Tracking Data
The number of cage-free laying hens in the U.S. dropped by 1.2 million head in January, marking the first time since August of 2016, when the USDA began tracking cage-free production, that the national cage-free flock has...
ANALYSIS: US Table-Laying Hen Flock Climbs to Near-Record Level
U.S. egg production totaled 9.8 billion during December 2019, up 4% from last year, according to the USDA’s monthly Chicken and Eggs report released this week. The number of hens laying table or market type eggs rose to...
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