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Monday, June 22, 2015
Additional tests: No AI in suspect Michael Foods flock
A Michael Foods layer flock in Nebraska that preliminarily tested positive for avian influenza in May went through several rounds additional tests, which showed that the virus was not present.
As a result, the flock was released from quarantine by the USDA, according to Post Holdings, the parent company of Michael Foods.
Operating on the assumption that the flock in question had been infected, Post Holdings on May 27 reported that about 35 percent of its egg volume commitments had been affected by the avian influenza outbreak. With the news that the flock in question was not affected, Post Holdings stated on June 18 that the percentage of egg volume commitments that were compromised has been reduced to 25 percent.
The company is still cautioning shareholders that it will face losses in fiscal year 2015 as a result of avian influenza.
“As a result of aggressive cost management, discontinuation of certain product lines and pricing actions, Post management continues to expect the negative impact of AI for fiscal 2015 on Adjusted EBITDA to be in line with previous guidance of approximately $20 million,” the company announced in a statement.