Sanderson Farms to host online conference call

Sanderson Farms, Inc., which has committed to starting an operation in Kinston, will host an online Web simulcast conference call on Dec. 4 to discuss its fiscal fourth-quarter 2008 earnings.

The live broadcast will begin at 11 a.m. on the company's Web site - Sandersonfarms.com. An online replay will be available two hours following the original broadcast through Dec. 11.

Lenoir County Economic Development Director Mark Pope said Monday he plans to view the online conference call next week. Sanderson Farms' management is expected to discuss the company's financial and operational results for the fourth quarter.

Sanderson Farms - the nation's fourth largest poultry processing company - is still dedicated to expanding its operations in Kinston. The company committed to bringing approximately 1,600 jobs to Lenoir County this past spring.

Sanderson Farms decided to delay its construction efforts this past summer after grain prices skyrocketed and floods devastated Midwest farmland. Pope said he expects the company to make an announcement after Thanksgiving regarding its timetable for ramping up its Kinston production facilities.

Pope said the company will continue to monitor market conditions, which they will use to determine when to start production in Kinston.

Another key factor in Sanderson Farm's Kinston timeline is the outcome of a potential reorganization of Pilgrim's Pride, Pope said. Pilgrim's Pride is the nation's top poultry processing company.

"Pilgrims' Pride is struggling right now," Pope said. "They bought Gold Kist about two years ago for $1.5 billion. (Gold Kist) may be in jeopardy."

Sanderson Farms is closely watching Pilgrim Pride's current financial situation, Pope said.

If Pilgrim's Pride files for bankruptcy, Sanderson Farms' position in the poultry market could be enhanced, according to Lenoir County's economic development leader.

"I don't want to see misfortune for anybody," Pope said.

Pope said once the final pieces of the puzzle are in place, Sanderson Farms will move forward with its Kinston plan. On Monday, Sanderson Farms' stock was trading on Wall Street for nearly $30 per share.

"They (Sanderson Farms) are strong right now," Pope said. "By Dec. 1, we should know what their plans are for Kinston."

Chris Lavender can be reached at (252) 559-1078 or clavender@freedomenc.com.

Sanderson Farms price per share first day of each month in 2008:
January- $33.61
February - $34.86
March - $38.01
April - $41.67
May - $49.93
June - $34.52
July - $39.74
August - $34.31
September - $36.74
October - $31.22
November - $29.68