Meat Suppliers at Lower Risk From Corn Prices

NEW YORK — Rising corn prices are less of a risk for meat and poultry producers now than they were in 2008, primarily because producers are better prepared for these rising costs, according to a recent report from Fitch Ratings here. Fitch upgraded Tyson Foods Inc. and Smithfield Foods Inc.'s ratings earlier this year, despite the recent run-up in corn prices. Moderate near-term margin deterioration

NEW YORK — Rising corn prices are less of a risk for meat and poultry producers now than they were in 2008, primarily because producers are better prepared for these rising costs, according to a recent report from Fitch Ratings here.

“Fitch upgraded Tyson Foods Inc. and Smithfield Foods Inc.'s ratings earlier this year, despite the recent run-up in corn prices. … Moderate near-term margin deterioration is anticipated and has been factored into ratings. However, reduced financia

Register to view the full article

Already a member? .