Land O’Lakes reports boost in egg profits

Land O’Lakes Inc. showed $111 million in sales and $2.7 million in pretax earnings in shell eggs in the second quarter 2007, compared to $105 million in sales and a $5.7-million pretax loss the same quarter of 2006, the Arden Hills, Minn., company said July 31. First-half sales in eggs totaled $231 million, with pretax earnings through June of $6.9 million. In the first half of 2006, the company recorded sales of $213 million and a pretax loss of $12.1 million in this business. LOL participates in the layers/shell eggs industry through MoArk LLC, its wholly owned subsidiary.

Improved volumes, up 6 percent, strong performance in branded and specialty eggs, and strong markets all contributed to 2007 results. Over the first six months of 2007, the company says that shell egg prices averaged $1.01/dozen, compared to 74 cents/dozen for the first six months of 2006.