Cagle’s Inc. reported a net loss of $11.5 million for the 2009 fiscal year and a $15.7 million loss in operating income during the same period, in a recent news report.
Revenues for fiscal 2009 were $292.6 million, reflecting a 3.1% increase as compared with fiscal 2008 with poultry prices increasing $0.024 per pound sold. Quoted market prices reflect a reduction in boneless breast at 13.6%, breast tenders at 7.2%, wings at 9.2% and leg quarters at 3.4%.
Cost of sales increased 9.2% as compared with 2008, from $268.5 million to $293.2 million. Feed ingredient cost per metric ton for broilers processed in 2009 increased 23.5% and feed cost represented approximately 36% of total cost of sales.
