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Cal-Maine Foods, Inc. Message Board

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  • stocksfromheaven stocksfromheaven Oct 7, 2009 1:02 PM Flag

    A Bad Omen-Corn Prices

    I believe CALM is somewhat vertically integrated and makes some of its own feed which can be a positive. I still think this goes to $20

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    • hdts2 Oct 7, 2009 1:17 PM Flag

      The way the 10-K reads it sounds like they operate the feed mills that produce a final product for the hens to consumer, but do not grow the crops.

      "We operate farms, processing plants, hatcheries, feed mills, warehouses, offices and other properties located in Alabama, Arkansas, Florida, Georgia, Kansas, Kentucky, Louisiana, Mississippi, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas and Utah. The facilities currently include two breeding facilities, two hatcheries, five wholesale distribution centers, 19 feed mills, 37 shell egg production facilities, 26 pullet growing facilities, and 35 processing and packing facilities. We also own interests in two egg products facilities and one spent hen processing facility, which are consolidated in our financial statements. Most of our operations are conducted from properties we own.

      Presently, we own approximately 19,600 acres of land in various locations throughout our geographic market area. We have the ability to hatch 21.2 million pullet chicks annually, grow 17 million pullets annually, house 31 million laying hens and control the production of an aggregate total of 30 million layers, with the remainder controlled by contract growers. We also own or control mills that can produce 668 tons per hour of feed, and processing facilities capable of processing 11,400 cases of shell eggs per hour (with each case containing 30 dozen shell eggs). Our facilities are well-maintained and operate at a high level of efficiency. Typically, we insure our facilities for replacement value."

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