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Shares of Food Producers Slump After Recall

Mon, 10/21/2013 - 9:55am

LOS ANGELES (AP) — Shares in several food producing companies slumped on Friday, a day after federal regulators announced a recall of thousands of rotisserie chickens and other products from a Costco store in Northern California.

The U.S. Department of Agriculture initiated the recall of a little more than 13,400 "Kirkland Signature Foster Farms" rotisserie chickens and related Kirkland Farms products such as soup, chicken salad and leg quarters. The items were sold at Costco's South San Francisco store between Sept. 24 and Oct. 15.

A previous recall was for more than 9,000 Foster Farms rotisserie chickens and related products purchased at the same South San Francisco Costco between Sept. 11 and Sept. 23.

Agriculture officials have said there have been no reports of illness from the latest recall.

Still, investors appeared concerned Friday that the recall could have a ripple effect on sales for other chicken producers.

Shares in Tyson Foods Inc. were down $1.27, or 4.3 percent, to $28.50 in afternoon trading, while Pilgrim's Pride Corp. fell $1.24, or 7.6 percent, to $15.15.

Sanderson Farms Inc. shares also tumbled, sliding $2.52, or 3.9 percent, to $62.66.

Foster Farms is privately owned.

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