I think that it's probably a lot less onerous from the pork-processing side unless they define it as meat processing, ... Then it could still present a challenge.
The market conditions in the chicken industry are pretty weak right now. With the added visibility that Sanderson provided today, I think it provides more concrete evidence that there is ongoing weakness in the market.
The higher oil rises, the more attractive ethanol becomes. It's also an environmental issue. It's not as though there are other alternative fuels that are cheaper.
It's not like Tyson is alone (in having a dual-structure stock.) And it's not hidden. (The voting structure) is laid out in the filings. There are a lot of other issues, obviously, that have greater bearing on the stock price than shareholder structure.
I think that there is a fairly positive outlook. It is really tied to improvement in pork demand domestically, ongoing strength in export markets, and the fact that they have locked in feed costs near term.
People will come back to chicken. If it gets cheap enough, people will eat it. Right now there is just quite a bit of uncertainty.
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