Home Wealth  Money Sanderson Squeezed By Feed Costs, Smucker Ups Coffee Prices

Sanderson Squeezed By Feed Costs, Smucker Ups Coffee Prices

Posted: May. 25th, 2011  |  By Forbes

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Poultry producer Sanderson Farms swung to a loss for its fiscal second quarter of $16.3 million, or 74 cents per share, compared to a profit of $35.1 million, or $1.62 per share, last year.

The company's adjusted loss of 56 cents per share was much narrower than analysts anticipated. Revenue ticked slightly lower, to $479.3 million from $487.1 million last year.

Sanderson Farms (nasdaq: SAFM - news - people ) said its profitability was negatively impacted by 41% higher feed costs, which it expects will remain high for the rest of the year.

J.M. Smucker (nyse: SJM - news - people ) said Tuesday it has hiked list prices for its U.S. coffee brands by an average of 11% due to sustained increases in green coffee costs.

Price increases will impact the Folgers, Folgers Gourmet Selections, Dunkin Donuts and Millstone brand names.

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