Chicken companies scratch out new terms with buyers

10/30/2011 | Wall Street Journal, The

Pilgrim's Pride is asking retailers and restaurants to sign contracts that will allow chicken prices to fluctuate with the cost of feed. Tyson began offering short-term contracts and ones tied to the cost of feed in 2008 after feed costs spiked as a way to prevent buyers from locking in prices for a year or longer. "As contracts come due, people are less willing to do a year. They will only do six months, or even a quarter at times," said the CEO of Garden Fresh Restaurants, with 112 eateries in 15 states.

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