Just as Tyson said yesterday that consumers have not yet felt the effect of higher grain prices, Pilgrim Pride said today that consumers “have just begun to see higher prices for meat and poultry in their local grocery stores.” Meat prices in the grocery channel have not yet moved up as much as other items, such as dairy, produce and cereals.
- Management stated that production cutbacks have not been enough to cover feed costs. That being said, CEO J. Clinton Rivers said “American consumers should brace themselves for sticker shock at the meat case over the next 12 months.”
