Poultry industry to be first to face losses from high corn prices
The poultry industry will be the first to be facing losses from record corn prices, due to the shorter lifespan of chickens compared to red meat animals. The first birds fed on $8 corn will soon hit the market, reports CNBC.
"We estimate that the average producer, by December, is probably going to be losing somewhere on the order of 5 to 10 cents a pound," said Heather Jones of BB&T Capital.