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Pilgrim's Pride pleaded guilty in federal court in Denver to conspiring to fix chicken prices and was sentenced to pay a $107.9 million fine. The plea follows indictments of ten poultry industry executives last year.
A plea agreement had been reached in October.
The case concerns past price-fixing rather than a change in supply, so it has little direct effect on near-term chicken supply or feed demand. It may add legal and reputational pressure on large integrators, a minor factor for chicken prices.
reuters.comJonathan StempelFeb 23, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
