National Beef profits down

20 July 2009

Net income for the 13 weeks ended May 30 was about $46.3 million, compared with net income of $74.3 million in the 14 weeks third quarter of fiscal year 2008. Sales were about $1.32 billion, compared with $1.53 billion last year. National Beef said sales dropped partly because of a 4.5% decline in the average volume of cattle processed per week and the extra week in the prior reporting period. Meanwhile, average sales prices per head fell nearly 2.6% during the current period as demand for beef products diminished compared with the same period last year.


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