Low protein in corn leads Hormel to reformulate feed

Low protein in corn leads Hormel to reformulate feed

Phongphan | Bigstock.com

Chief financial officer says company’s need to reformulate will result in higher feed costs

Speaking during a conference call with investors as the company announced its financial results of the first quarter of fiscal year 2020, Hormel Foods CFO and Executive Vice President Jim Sheehan said the company’s feed costs for the first quarter were flat when compared with the first quarter of fiscal year 2019. However, he said that is apt to change in the forthcoming quarters.