National Beef Packing reports lower 1Q loss

KANSAS CITY, Mo. (AP)--National Beef Packing Co., LLC says higher beef prices allowed it to slash its first-quarter loss versus a year ago.

The nation's fourth-largest beef processor reported Jan. 13 in a securities filing that it lost $2.8 million during the three months ending Nov. 29. By comparison, the Kansas City-based company lost $24.5 million during the same period a year ago.

National Beef said sales increased 2 percent to $1.43 billion. The company said a 6 percent increase in beef prices was offset by a 3.1 percent decline in the number of cattle processed.

A sale of the company to Brazilian beef giant JBS SA is on hold pending lawsuits filed by the Justice Department and more than a dozen states.

1/26/09
5 Star OK\14-B

Date: 1/20/09

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