As the poultry industry demands a repeal of the Renewable Fuels Standard (RFS), poultry corporations are making more money than they ever have before.
Tyson Foods Inc. reported sales of $34.4 billion in fiscal year 2013 and a share price of $2.22. “2013 was the best year in company history in terms of record sales and earnings per share,” Donnie Smith, Tyson’s president and chief executive officer, said in a statement.
Tyson officials also said that domestic and international demand was up which helped boost their bottom line.
So the poultry industry has been blaming the RFS for high feed costs that are cutting into their profits, all while enjoying record profits.
Does that make any sense? It doesn’t to us, either.
The poultry industry is doing just fine. Demand for their products remains high and they are making money. A lot of money. A record amount of money.
So, why attack corn farmers and the RFS? It’s already been established that corn prices went up the last couple of summers because of a massive drought, not the RFS. Today, corn prices are the lowest they’ve been in years and below the price of production. Corn farmers are currently harvesting a record crop.
Does the poultry industry really want to see corn fall below $2 per bushel like it was during the farm crisis days of old?
Big Poultry has aligned itself with Big Oil in attacking the RFS. We all know how record profits aren’t enough for Big Oil. They’re always looking to make more, more and more — regardless of who they put out of business or damage they cause to the economy overall.
Unfortunately, the poultry industry now feels the same. And unless you have been locked inside of a chicken coop, it’s easy to see how it’s damaging agriculture as a whole.
If you want to know more about how much money poultry corporations are making and how repealing the RFS would help them get even richer, fast forward to the 1:40 mark of the below video.