Question-and-Answer Session
Operator
Thank you, Mr. Cockrell. (Operator instructions). Our first question comes from Ken Goldman with JP Morgan.
Ken Goldman – JP Morgan
Good morning.
Joe Sanderson
Good morning.
Lampkin Butts
Good morning, Ken.
Ken Goldman – JP Morgan
It was nice to see a clean press release like this from a protein company, it has been a while. So kudos to you. I have a question on retail, where do you think Georgia Dock prices is going from here? $0.86 is obviously very strong, but is down a little bit sequentially, starting to hear more talk about trade down to private-label and retail, if you could just give us a little more color on that, that would be helpful?
Joe Sanderson
A little more color on the what we project for Georgia Dock?
Ken Goldman – JP Morgan
Sure, if you want to give that much color, I’d?
Joe Sanderson
Let me start with this. We think the consumers are going on to shop at retail like they did for the last six or eight months. The retailer is going to be stronger because people are not eating out as much. They are shopping more at the grocery store, and we think that segment is going to be stronger. We saw a report that said retailer sales were up over 7%, and we think that’s going to continue because we do not believe that demand is going to gain traction in foodservice as long as this recession is in place, and so we think retail is going to continue to be strong. We have – we don’t have any – I mean we do both private-label and our label at several of our key accounts and there hadn't been any significant shift there over the last 12 months.
Lampkin Butts
I’ve read some – I have seen some things that the retailers believe that private-label is getting some more attention but it is not really in the fridge right.
Joe Sanderson
Chicken.
Lampkin Butts
Yes. It has been the same for – has been the same?
Joe Sanderson
For all the private label products.
Mike Cockrell
One thing you said about trading down, we have heard from some of our customers anecdotally, they mentioned trade down to less expensive cuts of meat, dark meat versus boneless breast meat and that of thing?
Joe Sanderson
Even whole birds, the percentage of whole birds is up just a fraction.
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