SEC Filing | Pilgrim's Pride Corporation

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form 8_k

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): November 14, 2006

PILGRIM'S PRIDE CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware	1-9273	75-1285071
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

4845 US Hwy. 271 N.
Pittsburg, Texas	75686-0093
(Address of Principal Executive Offices)	(ZIP Code)

Registrant's telephone number, including area code: (903) 434-1000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

q	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

q	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

q	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

q	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)
Item 7.01		Regulation FD Disclosure

Attached hereto as Exhibit 99.1 is certain supplemental historical financial information of Pilgrim’s Pride Corporation.


Exhibit Number		Description

99.1		Supplemental Historical Financial Information

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


PILGRIM’S PRIDE CORPORATION

Date: November 14, 2006



By:		/s/ Richard A. Cogdill

		Richard A. Cogdill Executive Vice President, Chief Financial Officer, Secretary and Treasurer

Exhibit Index


Exhibit Number		Description

99.1		Supplemental Historical Financial Information

EX-99.1

Pilgrim's Pride Corporation
Net Sales by Primary Market Line
for Quarter Ended:

The following table sets forth net sales attributable to each of our primary product lines and markets served with those products. We based the table on our internal sales reports and their classification of product types and customers. The information in these tables should be read in conjunction with the information in our SEC filings, including the discussion of our primary product lines and markets served with those products included in our most recent Annual Report on Form 10-K.

		Sept 30,		October 1,
		2006		2005

Chicken Sales:
United States
Prepared Foods:
Foodservice	$	408,784	$	405,621
Retail	$	79,447	$	77,001
Total Prepared Foods	$	488,232	$	482,622

Fresh Chicken:
Foodservice	$	352,044	$	401,016
Retail	$	127,273	$	158,410
Total Fresh Chicken	$	479,318	$	559,425
Export and Other
Export:
Prepared Foods	$	15,758	$	13,975
Chicken	$	72,020	$	104,096
Total Export	$	87,778	$	118,071
Other Chicken By Products	$	3,783	$	2,435
Total Export and Other	$	91,562	$	120,506
Total U.S. Chicken	$	1,059,111	$	1,162,554

Mexico:	$	115,315	$	101,151
Total Chicken Sales	$	1,174,426	$	1,263,705

Total Prepared Foods		503,990		496,597

Turkey Sales:
Prepared Foods:
Foodservice	$	501	$	7,950
Retail	$	326	$	10,584
Total Prepared Foods	$	827	$	18,534

Fresh Turkey:
Foodservice	$	4,226	$	3,837
Retail	$	29,549	$	26,157
Total Fresh Turkey	$	33,775	$	29,994
Export and Other
Export:
Prepared Foods	$	39	$	149
Turkey	$	1,295	$	1,252
Total Export	$	1,334	$	1,401
Other Turkey By Products	$	193	$	268
Total Export and Other	$	1,527	$	1,670
Total Turkey Sales	$	36,129	$	50,198

Total Prepared Foods	$	866	$	18,683

Sale of Other Products
U.S.	$	124,901	$	163,585
Mexico	$	2,943	$	5,181
Total Other Products	$	127,843	$	168,766
Total Net Sales	$	1,338,398	$	1,482,668

	Sept 30,		October 1,
	2006		2005

Chicken Sales:
U.S. Chicken Sales:
Prepared Foods:
Foodservice	38.6	%	34.9	%
Retail	7.5	%	6.6	%
Total Prepared Foods	46.1	%	41.5	%

Fresh Chicken:
Foodservice	33.2	%	34.5	%
Retail	12.0	%	13.6	%
Total Fresh Chicken	45.2	%	48.1	%
Export and Other
Export:
Prepared Foods	1.5	%	1.2	%
Chicken	6.8	%	9.0	%
Total Export	8.3	%	10.2	%
Other Chicken By Products	0.4	%	0.2	%
Export and Other	8.7	%	10.4	%
Total U.S. Chicken	100.0	%	100.0	%



Turkey Sales:
U.S. Turkey Sales:
Prepared Foods:
Foodservice	1.4	%	15.9	%
Retail	0.9	%	21.1	%
Total Prepared Foods	2.3	%	37.0	%

Fresh Turkey:
Foodservice	11.7	%	7.6	%
Retail	81.8	%	52.1	%
Total Fresh Turkey	93.5	%	59.7	%
Export and Other
Export:
Prepared Foods	0.1	%	0.3	%
Turkey	3.6	%	2.5	%
Total Export	3.7	%	2.8	%
Other Turkey By Products	0.5	%	0.5	%
Export and Other	4.2	%	3.3	%
Total U.S. Turkey	100.0	%	100.0	%

Pilgrim's Pride Corporation
Net Sales by Primary Market Line
for Fiscal Year ended:

The following table sets forth net sales attributable to each of our primary product lines and markets served with those products. We based the table on our internal sales reports and their classification of product types and customers. The information in these tables should be read in conjunction with the information in our SEC filings, including the discussion of our primary product lines and markets served with those products included in our most recent Annual Report on Form 10-K.

	Sep 30,		Oct 1,
	2006		2005
(in thousands)

Chicken Sales:
United States
Prepared Foods:
Foodservice	1,567,296	$	1,622,901
Retail	308,486		283,392
Total Prepared Foods	1,875,783		1,906,293

Fresh Chicken:
Foodservice	1,388,451		1,509,189
Retail	496,560		612,081
Total Fresh Chicken	1,885,011		2,121,270

Export and Other
Export:
Prepared Foods	64,338		59,473
Chicken	257,823		303,150
Total Export	322,161		362,623
Other Chicken By Products	15,448		21,083
Total Export and Other	337,609		383,706
Total U.S. Chicken	4,098,403		4,411,269

Mexico:	418,745		403,353
Total Chicken Sales	4,517,148		4,814,622

Total Prepared Foods	1,940,121		1,965,766


Turkey Sales:
Prepared Foods:
Foodservice	21,046		61,209
Retail	12,953		37,653
Total Prepared Foods	34,000		98,862

Fresh Turkey:
Foodservice	9,222		12,699
Retail	84,015		88,088
Total Fresh Turkey	93,237		100,787
Export and Other
Export:
Prepared Foods	217		981
Turkey	2,640		3,307
Total Export	2,857		4,288
Other Turkey By Products	807		901
Total Export and Other	3,664		5,189
Total Turkey Sales	130,901		204,838

Total Prepared Foods	34,217		99,843

Sales of Other Products
U.S.	570,510		626,056
Mexico	17,006		20,759
Total Sale of Other Products	587,516		646,815
Total Net Sales	5,235,565	$	5,666,275

	Sept, 30		Oct 1,
	2006		2005


U.S. Chicken Sales:
Prepared Foods:
Foodservice	38.2	%	36.8	%
Retail	7.5	%	6.4	%
Total Prepared Foods	45.7	%	43.2	%

Fresh Chicken:
Foodservice	33.9	%	34.2	%
Retail	12.1	%	13.9	%
Total Fresh Chicken	46.0	%	48.1	%

Export and Other
Export:
Prepared Foods	1.6	%	1.3	%
Chicken	6.3	%	6.9	%
Total Export	7.9	%	8.2	%
Other Chicken By Products	0.4	%	0.5	%
Total Export and Other	8.3	%	8.7	%
Total U.S. Chicken	100.0	%	100.0	%

Prepared Foods	47.3	%	44.5	%


U.S. Turkey Sales:
Prepared Foods:
Foodservice	16.1	%	29.8	%
Retail	9.9	%	18.4	%
Total Prepared Foods	26.0	%	48.2	%

Fresh Turkey:
Foodservice	7.0	%	6.2	%
Retail	64.2	%	43.0	%
Total Fresh Turkey	71.2	%	49.2	%
Export and Other
Export:
Prepared Foods	0.2	%	0.5	%
Turkey	2.0	%	1.6	%
Total Export	2.2	%	2.1	%
Other Turkey By Products	0.6	%	0.5	%
Total Export and Other	2.8	%	2.6	%
Total U.S. Turkey	100.0	%	100.0	%

Prepared Foods	26.2	%	48.7	%

Pilgrim's Pride Corporation Selected Financial Data for quarter ended:

Our selected financial data is derived from our financial statements. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.

		09/30/06			10/01/05

Income Statement Data:
Net sales	$	1,338,398		$	1,482,668
Non-recurring recoveries					-
Turkey restructuring and related charges		-			-
Gross margin		99,303			200,805
Selling, general and administrative expenses		77,826			80,956
Operating income (loss)		21,477			119,849
Interest expense, net		10,579			10,068
Miscellaneous, net		(1,220	)		437
Income (loss) before income taxes and extrardinary charge		12,118			109,344
Income tax expense (benefit)		19,601			34,616
Income (loss) before extraordinary charge		(7,483	)		74,728
Extraordinary charge - net of tax		-			-
Net income (loss)	$	(7,483	)	$	74,728

Per Common Share Data:
Income (loss) before extraordinary charge	$	(0.11	)	$	1.12
Extraordinary charge - early repayment of debt		-			-
Net Income (loss)	$	(0.11	)	$	1.12
Cash dividends	$	0.023		$	0.015
Book value	$	16.72		$	18.31

Balance Sheet Summary:
Working capital	$	528,836		$	404,601
Total assets	$	2,426,868		$	2,511,903
Notes payable and current maturities of long-term debt	$	10,322		$	8,603
Long-term debt, less current maturities	$	554,876		$	518,863
Total debt	$	565,198		$	527,466
Senior secured debt (included in Total Debt)	$	-		$	-
Total stockholders' equity	$	1,117,327		$	1,223,598

Cash Flow Summary:
Operating cash flow	$	19,861		$	130,167
Depreciation & amortization (a)	$	35,082		$	40,681
Capital expenditures	$	42,568		$	26,439
Business acquisitions	$	-		$	-
Financing activities, net	$	67,026		$	36,510

Cashflow Ratios:
EBITDA (b)	$	57,207		$	159,512
EBITDA (last four qtrs.)	$	136,763		$	580,078

Key Indicators (as a percentage of net sales):
Gross margin		7.4	%		13.5	%
Selling, general and administrative expenses		5.8	%		5.5	%
Opertaing income (loss)		1.6	%		8.1	%
Interest expense, net		0.8	%		0.7	%
Net income (loss)		-0.6	%		5.0	%

(a) Includes amortization of capitalized financing costs of approximately

572

581

(b) “EBITDA” is defined as the sum of net income (loss) before extraordinary charges, interest, taxes, depreciation and amortization. EBITDA is presented because it is used by us, and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of GAAP results, to compare the performance of companies. EBITDA is not a measurement of financial performance under generally accepted accounting principles and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measures of performance derived in accordance with generally accepted accounting principles. EBITDA is calculated as follows:

Net Income	$	(7,483	)	$	74,728
Add:
Extraordinary charge-net of tax		-			-
Income Tax Expense (benefit)		19,601			34,616
Interest expense, net		10,579			10,068
Depreciation and amortization		35,082			40,681
Minus:
Amortization of capitalized financing costs		572			581
EBITDA	$	57,207		$	159,512

Pilgrim's Pride Corporation
Selected Financial Data
for fiscal years ended:

Our selected financial data is derived from our financial statements. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.

		2006			2005

(In thousands except per share data)
Income Statement Data:
Net sales	$	5,235,565		$	5,666,275
Non-recurring recoveries		-			-
Turkey restructuring and related charges		-			-
Gross margin		297,600			745,199
Selling, general and administrative expenses		294,598			309,387
Operating income (loss)		3,002			435,812
Interest expense, net		40,553			43,932
Miscellaneous, net		(1,234	)		(11,643	)
Income (loss) before income taxes and extraordinary charge		(36,317	)		403,523
Income tax expense (benefit)		(2,085	)		138,544
Income (loss) before extraordinary charge		(34,232	)		264,979
Extraordinary charge - net of tax		-			-
Net income (loss)	$	(34,232	)	$	264,979

Per Common Share Data:
Income (loss) before extraordinary charge	$	(0.51	)	$	3.98
Extraordinary charge - early repayment of debt	$	-		$	-
Net Income (loss)	$	(0.51	)	$	3.98
Cash dividends	$	1.090		$	0.060
Book value	$	16.72		$	18.38

Balance Sheet Summary:
Working capital	$	528,836		$	404,601
Total assets	$	2,426,868		$	2,511,903
Notes payable and current maturities of long-term debt	$	10,322		$	8,603
Long-term debt, less current maturities	$	554,876		$	518,863
Total debt	$	565,198		$	527,466
Senior secured debt (included in Total Debt)	$	-		$	-
Total stockholders' equity	$	1,117,327		$	1,223,598

Cash Flow Summary:
Operating cash flow	$	30,382		$	493,073
Depreciation & amortization (a)	$	135,133		$	134,944
Capital expenditures	$	143,882		$	116,588
Business acquisitions	$	-		$	-
Financing activities, net	$	(38,750	)	$	18,860

Cashflow Ratios:
EBITDA (b)	$	136,763		$	580,078
EBITDA /interest expense, net		3.37			13.20

Key Indicators (as a percentage of net sales):
Gross margin		5.7	%		13.2	%
Selling, general and administrative expenses		5.6	%		5.5	%
Operating income (loss)		0.1	%		7.7	%
Interest expense, net		0.8	%		0.8	%
Net income (loss)		-0.7	%		4.7	%

(a) Includes amortization of capitalized financing costs of approximately

2606

2321

Net Income	$	(34,232	)	$	264,979
Add:
Income Tax Expense (benefit)		(2,085	)		138,544
Interest expense, net		40,553			43,932
Depreciation and amortization		135,133			134,944
Minus:
Amortization of capitalized financing costs		2,606			2,321
EBITDA	$	136,763		$	580,078

Pilgrim's Pride Corporation
Sales Segments
for Quarters Ended:



Our chicken segment and our sales of other product segment include sales of products that we produce and purchase for resale in the United States and Mexico. Both of these segments conduct separate operations in the United States and Mexico and are reported as two seprarate geographical areas. Our turkey segment includes sales of turkey products produced and purchased for resale. Our turkey operations are exclusively in the United States.
Inter-area sales and inter-segment sales, which are not material, are accounted for at prices comparable to normal trade customer sales. Fixed assets by segment and geographic area are those assets which are used in our operations in each segment or area. Corporate assets are included with chicken and other products. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.

(in thousands)
		9/30/2006			10/1/2005
Net Sales to Customers:
Chicken:
United States	$	1,059,111		$	1,162,553
Mexico		115,315			101,151
Sub-total		1,174,426			1,263,704
Turkey		36,129			50,198
Other Products:
United States		124,900			163,585
Mexico		2,943			5,181
Sub-total		127,843			168,766
Total	$	1,338,398		$	1,482,668

Operating Income:
Chicken:
United States	$	32,631		$	113,765
Mexico		(7,783	)		7,912
Sub-total		24,848			121,677
Turkey		445			(5,936	)
Other Products:
United States		(4,285	)		2,966
Mexico		469			1,142
Sub-total		(3,816	)		4,108
Non-recurring recoveries		-			-
Total	$	21,477		$	119,849

Depreciation and Amortization: (a)
Chicken:
United States	$	29,435		$	35,524
Mexico		2,835			2,985
Sub-total		32,270			38,509
Turkey		568			954
Other Products:
United States		2,216			1,173
Mexico		27			45
Sub-total		2,243			1,218
Total	$	35,081		$	40,681

Total Assets:
Chicken:
United States	$	1,897,763		$	2,059,579
Mexico		361,887			287,414
Sub-total		2,259,650			2,346,993
Turkey		76,908			77,319
Other Products:
United States		88,650			85,581
Mexico		1,660			2,010
Sub-total		90,310			87,591
Total	$	2,426,868		$	2,511,903

Capital Expenditures:
Chicken:
United States	$	39,860		$	20,408
Mexico		1,410			1,252
Sub-total		41,270			21,660
Turkey		66			2,511
Other Products:
United States		958			2,234
Mexico		275			35
Sub-total		1,233			2,269
Total	$	42,569		$	26,440

(a) Includes amortization of capitalized financing costs of approximately

572

581

Pilgrim's Pride Corporation
Sales Segments
for the Fiscal Years Ended:



Our chicken segment and our sales of other product segment include sales of products that we produce and purchase for resale in the United States and Mexico. Both of these segments conduct separate operations in the United States and Mexico and are reported as two seprarate geographical areas. Our turkey segment includes sales of turkey products produced and purchased for resale. Our turkey operations are exclusively in the United States.
Inter-area sales and inter-segment sales, which are not material, are accounted for at prices comparable to normal trade customer sales. Fixed assets by segment and geographic area are those assets which are used in our operations in each segment or area. Corporate assets are included with chicken and other products. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.

		9/30/2006			10/1/2005
(In thousands)

Net Sales to Customers:
Chicken:
United States	$	4,098,403		$	4,411,269
Mexico		418,745			403,353
Sub-total		4,517,148			4,814,622
Turkey		130,901			204,838
Other Products:
United States		570,510			626,056
Mexico		17,006			20,759
Sub-total		587,516			646,815
Total	$	5,235,565		$	5,666,275

Operating Income:
Chicken:
United States	$	28,619		$	405,662
Mexico		(17,960	)		39,809
Sub-total		10,659			445,471
Turkey		(15,511	)		(22,539	)
Other Products:
United States		6,216			8,250
Mexico		1,638			4,630
Sub-total		7,854			12,880
Non-recurring recoveries		-			-
Total	$	3,002		$	435,812

Depreciation and Amortization: (a)
Chicken:
United States	$	109,346		$	114,131
Mexico		11,305			12,085
Sub-total		120,651			126,216
Turkey		6,593			3,343
Other Products:
United States		7,743			5,196
Mexico		146			189
Sub-total		7,889			5,385
Total	$	135,133		$	134,944

Total Assets:
Chicken:
United States	$	1,897,763		$	2,059,579
Mexico		361,887			287,414
Sub-total		2,259,650			2,346,993
Turkey		76,908			77,319
Other Products:
United States		88,650			85,581
Mexico		1,660			2,010
Sub-total		90,310			87,591
Total	$	2,426,868		$	2,511,903

Capital Expenditures:
Chicken:
United States	$	133,106		$	102,470
Mexico		6,536			4,924
Sub-total		139,642			107,394
Turkey		257			3,604
Other Products:
United States		3,567			5,448
Mexico		416			142
Sub-total		3,983			5,590
Total	$	143,882		$	116,588

(a) Includes amortization of capitalized financing costs of approximately

2,606

2,321

Pilgrim's Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.

($ in thousands )		09/30/06			10/01/05
U.S. Chicken

U.S. Chicken Sales (000's)	$	1,059,111		$	1,162,553
U.S. Chicken Sales divided by U.S.Chicken Net Pounds Produced	$	0.7468		$	0.8162
U.S. Chicken Sales divided by U.S.Chicken Pounds Sold	$	0.8601		$	0.8940

U.S. Chicken Net Pounds Produced (000's)		1,418,267			1,424,405
U.S. Chicken Pounds Sold (000's)		1,231,414			1,300,368

U.S. Chicken Operating Income (000's)		32,631			113,765
U.S. Chicken Operating Income as a percent of U.S. Chicken Sales		3.08	%		9.79	%

Turkey

U.S. Turkey Sales (000's)		36,129			50,198
U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced	$	0.9931		$	1.3996
U.S. Turkey Sales divided by U.S. Turkey Pounds Sold	$	0.7792		$	0.8654

U.S. Turkey Operating Income (000's)		445			(5,936	)
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales		1.23	%		-11.83	%

U.S. Turkey Net Pounds Produced (000's)		36,381			35,865
U.S. Turkey Pounds Sold (000's)		46,369			58,004


U.S. Other

U.S. Other Sales		124,900			163,585

U.S. Other Operating Income		(4,285	)		2,966
U.S. Distribution and Other Operating Income as a percent of U.S. Distribution Sales		-3.43	%		1.81	%

U.S. Summary

U.S. Sales (000's)		1,220,140			1,376,336
U.S. Cost of Sales (000's)		1,122,156			1,192,801
U.S. Gross Margin (000's)		97,984			183,535
U.S. Gross Margin as a percent of U.S. Sales		8.03	%		13.34	%

U.S. Selling, General and Administrative Expenses (000's)		69,193			72,740
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales		5.67	%		5.29	%

Restructuring and Related Charges - Turkey		-			-
Insurance Proceeds - Turkey		-			-
Vitamin Settlements (000's)		-			-

U.S. Operating Income (000's)		28,791			110,795
U.S. Operating Income as a percent of U.S. Sales		2.36	%		8.05	%

Mexico Chicken

Mexico Chicken Sales (000's)		115,315			101,151
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced	$	0.6200		$	0.6753
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Sold	$	0.5895		$	0.6748

Mexico Net Pounds Produced (000's)		185,992			149,794
Mexico Net Pounds Sold (000's)		195,609			149,891

Mexico Other

Mexico Other Sales (000's)		2,943			5,181

Mexico Summary

Mexico Sales (000's)		118,258			106,332
Mexico Cost of Sales (000's)		116,939			89,062
Mexico Gross Margin (000's)		1,319			17,270
Mexico Gross Margin as a percent of Mexico Sales		1.1	%		16.2	%

Mexico Selling, General and Administrative Expenses (000's)		8,633			8,216
Mexico Selling, General and Administrative Expenses as a percent of Mexico Sales		7.3	%		7.7	%

Mexico Operating Income (000's)		(7,314	)		9,054
Mexico Operating Income as a percent of Mexico Sales		-6.2	%		8.5	%

Consolidated Operations
Chicken Operations:
Chicken Sales from all Divisions (000's)		1,174,426			1,263,704
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions	$	0.7321		$	0.8028
Chicken Sales from all divisions divided by Chicken Pounds Sold from all Divisions	$	0.8230		$	0.8714

Chicken Net Pounds Produced from all Divisions (000's)		1,604,259			1,574,199
Chicken Pounds Sold from all Divisions (000's)		1,427,023			1,450,259


Turkey Operations:
U.S. Turkey Sales (000's)		36,129			50,198
U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced	$	0.9931		$	1.3996
U.S. Turkey Sales divided by U.S. Turkey Pounds Sold	$	0.7792		$	0.8654

U.S. Turkey Net Pounds Produced (000's)		36,381			35,865
U.S. Turkey Pounds Sold (000's)		46,369			58,004


Other Operations:
Other Sales (000's)		127,843			168,766


Totals All Operations:
Total Net Sales (000's)		1,338,398			1,482,668
Total Cost of Sales (000's)		1,239,095			1,281,863
Gross Margin from all operations (000's)		99,303			200,805
Gross Margin from all operations as a percent of Total Net Sales		7.42	%		13.54	%

Total Selling, General and Administrative Expenses (000's)		77,826			80,956
Total Selling, General and Administrative Expenses as a percent of Total Net Sales		5.81	%		5.46	%

Restructuring and Related Charges - Turkey		-			-
Insurance Proceeds - Turkey		-			-

Operating Income from all operations (000's)		21,477			119,849
Operating Income from all operations as a percent of Total Net Sales		1.60	%		8.08	%

Consolidated Adjusted Operating Income (000's)		21,477			119,849
Consolidated Adjusted Operating Income as a percent of Total Net Sales		1.60	%		8.08	%

Pilgrim's Pride Corporation
Statistical Management Discussion and Analysis
for the fiscal years ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion

($ in thousands)		09/30/06			10/01/05
U.S. Chicken

U.S. Chicken Sales (000's)	$	4,098,403		$	4,411,269
U.S. Chicken Sales divided by U.S.Chicken Net Pounds Produced	$	0.7194		$	0.7964
U.S. Chicken Sales divided by U.S.Chicken Pounds Sold	$	0.8216		$	0.8641

U.S. Chicken Net Pounds Produced (000's)		5,696,746			5,539,163
U.S. Chicken Pounds Sold (000's)		4,988,042			5,105,194

U.S. Chicken Operating Income (000's)		28,619			405,662
U.S. Chicken Operating Income as a percent of U.S. Chicken Sales		0.70	%		9.20	%

Turkey

U.S. Turkey Sales (000's)		130,901			204,838
U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced	$	0.8872		$	1.4126
U.S. Turkey Sales divided by U.S. Turkey Pounds Sold	$	0.8776		$	0.9629

U.S. Turkey Operating Income (000's)		(15,511	)		(22,539	)
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales		-11.85	%		-11.00	%

U.S. Turkey Net Pounds Produced (000's)		147,545			145,004
U.S. Turkey Pounds Sold (000's)		149,157			212,737


U.S. Other

U.S. Other Sales		570,510			626,056

U.S. Other Operating Income		6,216			8,250
U.S. Distribution and Other Operating Income as a percent of U.S. Distribution Sales		1.1	%		1.3	%

U.S. Summary

U.S. Sales (000's)		4,799,814			5,242,163
U.S. Cost of Sales (000's)		4,514,720			4,574,719
U.S. Gross Margin (000's)		285,094			667,444
U.S. Gross Margin as a percent of U.S. Sales		5.94	%		12.73	%

U.S. Selling, General and Administrative Expenses (000's)		265,064			281,348
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales		5.52	%		5.37	%

Restructuring and Related Charges - Turkey		706			(5,277	)
Insurance Proceeds - Turkey		0			0
Vitamin Settlements (000's)		-			-

U.S. Operating Income (000's)		19,324			391,373
U.S. Operating Income as a percent of U.S. Sales		0.40	%		7.47	%

Mexico Chicken

Mexico Chicken Sales (000's)		418,745			403,353
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced	$	0.6113		$	0.6460
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Sold	$	0.5871		$	0.6459

Mexico Net Pounds Produced (000's)		684,964			624,409
Mexico Net Pounds Sold (000's)		713,285			624,506

Mexico Other

Mexico Other Sales (000's)		17,006			20,759

Mexico Summary

Mexico Sales (000's)		435,751			424,112
Mexico Cost of Sales (000's)		422,539			351,634
Mexico Gross Margin (000's)		13,212			72,478
Mexico Gross Margin as a percent of Mexico Sales		3.0	%		17.1	%

Mexico Selling, General and Administrative Expenses (000's)		29,534			28,039
Mexico Selling, General and Administrative Expenses as a percent of Mexico Sales		6.8	%		6.6	%

Mexico Operating Income (000's)		(16,322	)		44,439
Mexico Operating Income as a percent of Mexico Sales		-3.7	%		10.5	%

Consolidated Operations
Chicken Operations:
Chicken Sales from all Divisions (000's)		4,517,148			4,814,622
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions	$	0.7078		$	0.7811
Chicken Sales from all divisions divided by Chicken Pounds Sold from all Divisions	$	0.7923		$	0.8403

Chicken Net Pounds Produced from all Divisions (000's)		6,381,710			6,163,572
Chicken Pounds Sold from all Divisions (000's)		5,701,327			5,729,700


Turkey Operations:
U.S. Turkey Sales (000's)		130,901			204,838
U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced	$	0.8872		$	1.4126
U.S. Turkey Sales divided by U.S. Turkey Pounds Sold	$	0.8776		$	0.9629

U.S. Turkey Net Pounds Produced (000's)		147,545			145,004
U.S. Turkey Pounds Sold (000's)		149,157			212,737


Other Operations:
Other Sales (000's)		587,516			646,815


Totals All Operations:
Total Net Sales (000's)		5,235,565			5,666,275
Total Cost of Sales (000's)		4,937,259			4,926,353
Gross Margin from all operations (000's)		298,306			739,922
Gross Margin from all operations as a percent of Total Net Sales		5.70	%		13.06	%

Total Selling, General and Administrative Expenses (000's)		294,598			309,387
Total Selling, General and Administrative Expenses as a percent of Total Net Sales		5.63	%		5.46	%

Restructuring and Related Charges - Turkey		706			(5,277	)
Insurance Proceeds - Turkey		0			0

Operating Income from all operations (000's)		3,002			435,812
Operating Income from all operations as a percent of Total Net Sales		0.06	%		7.69	%

Consolidated Adjusted Operating Income (000's)		3,002			435,812
Consolidated Adjusted Operating Income as a percent of Total Net Sales		0.06	%		7.69	%