Genus rues high feed costs

11th May 2011 12:02

Soaring commodity prices are becoming a problem for the animal genetics company Genus."Pig prices have kept pace with the increases in feed costs in most countries and, as a result, customer profitability and the demand for Genus' products have been sustained," the company said. "The exception to this has been in Europe where price increases have not been sufficient to restore profitability for pig producers and so the market has been relatively soft."Based on the results for the four months to 30 April, the company has continued to perform ahead of last year, Genus said. "Genus expects to continue to make good progress for the remainder of the year and that, as a result, the full year results to June 2011 will be in line with the board's expectations," the firm said.---RG