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Chicken Prices Are Soaring, Driving Sanderson Shares to New High

Farm Animals As Trump Announces $13 Billion In New Agriculture Aid
Photographer: Luke Sharrett/Bloomberg

A resurgence in restaurant dining has prices for chicken rising faster than production costs, driving Sanderson Farms Inc. shares to a record high.

The third-biggest US chicken producer reported its highest earnings per share ever as easing worries about the coronavirus contributed to “significantly improved demand from food service customers,” the company said in a securities filing. The company is being acquired by Cargill Inc. and Continental Grain Co., which is expected to be completed in the first half of this year.