Cal-Maine Foods delivered a solid financial and operating performance for the second quarter of fiscal 2024 in the face of dynamic market conditions, according to company president and CEO Sherman Miller.

"Our sales reflect a different market environment from a year ago, with significantly lower average selling prices," he said. "However, our total volumes sold were up slightly over a year ago, as consumer demand for shell eggs continued to be favourable in the quarter, especially leading up to the Thanksgiving holiday." 

The company continues its aim to offer consumers a wide range of product choices in shell eggs, as well as enhanced egg product offerings. 

"Our ability to meet changing demand trends with a favourable product mix has been an important differentiator for Cal-Maine Foods," said Miller. "With solid execution, we continued to meet the needs of our customers. We commend our managers and employees across our production facilities who continued to efficiently manage our operations and keep pace with changing demand."

During the second quarter, Cal-Maine completed the acquisition of the assets of Fassio Egg Farms, Inc. a shell egg production and processing business located in Erda, Utah, outside of Salt Lake City. The additional production capacity, especially for cage-free eggs, has enhanced the company's ability to serve its customers in this market. 

Following the end of the second quarter, Cal-Maine announced a definitive agreement to acquire from Tyson Foods, a recently closed broiler processing plant, hatchery and feed mill located in Dexter, Missouri. 

"We expect to complete the acquisition in our third fiscal quarter and to repurpose the assets for use in egg and egg products production," said Miller. "We look forward to the opportunities to leverage the added production and distribution capabilities and reach more customers in Missouri and surrounding markets."