Poultry processor needs more time

Chicken producer Pilgrim’s Pride Corp. needs to convince creditors to give it a few more months to shore up its business, after which it could reap the benefits of lower feed costs and higher meat prices, investment and agricultural industry analysts say. Pilgrim’s won a temporary reprieve from its lenders last month on a credit

Credit woes wound Pilgrim’s Pride

Pilgrim’s Pride Corp. shares lost as much as 29 per cent on Oct. 6, spurred by new fears over the U. S. chicken producer’s ability to secure credit in a growing financial markets crisis. Pilgrim’s Pride fell far deeper than a broader market sell-off, with the Dow down about six per cent that day on