Pilgrim’s Pride Announces Year End Results

PITTSBURG, TX, December 11, 2008 - Pilgrim’s Pride the largest poultry producer in the US and the second largest in Mexico today announced that it lost nearly $1 Billion Dollars in fiscal 2008.

Pilgrim’s Pride based in Pittsburg, Texas has filed for bankruptcy protection earlier this year.

One of Pilgrim’s Pride subsidiaries is Professional Food Services a supplier of fresh and frozen meats and commodities with operations in Houston and other US cities.

Pilgirm’s Pride earned $47 Million Dollars in the previous year but was crippled by ever increasing grain prices as well as an increase in the cost of operations.

Experts in the industry predict higher meat and poultry prices for consumers in the future.

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