Pilgrim’s Pride Broiler Chickens
Broilers at Pilgrim’s Pride are fed corn and soybean meal, as well as certain vitamins and minerals.
In 2022, corn, soybean meal and wheat accounted for approximately 46.1%, 35.2% and 4.6% of this company’s feed costs, respectively.
Broiler production is significantly more feed efficient than cattle or hog production.
According to Pilgrim’s Pride, about two pounds of feed is required per pound of chicken, compared to seven and 3.5 pounds for cattle and hogs, in that order.
The company has sought to mitigate the impact of feed price volatility on its profitability by reducing the amount of its products sold under longer-term fixed-price contracts, expanding its product portfolio and increasing the variety of contracts within its business portfolio.
As a vertically integrated company, the company can control every stage of the production process, which helps it manage feed safety and quality, control margins and improve customer service.
Broilers
Pilgrim’s Pride plants are strategically located to ensure that customers receive fresh products in a timely manner.
With its global network of approximately 4,950 producers, 36 feed mills, 47 hatcheries, 40 processing plants, 33 prepared feed cooking plants, 31 distribution centers, 9 processing facilities and 4 pet food plants and 3 other facilities, the company believes it is well positioned to supply the growing demand for its products.
On September 24, 2021, the company acquired 100% of the equity of Kerry Consumer Foods‘ meat and meals businesses, collectively known as Pilgrim’s Food Masters («PFM»), for cash of $958.9 million.
The specialty meats business is a leading manufacturer of branded and private label meats, meat snacks and takeaway products in the United Kingdom and the Republic of Ireland.
In turn, the ready meals business is a leading chilled and frozen ready meals business in the United Kingdom.
