Pilgrims Pride posts loss due to high feed prices

CHICAGO, Jan 29 (Reuters) - Pilgrim's Pride Corp (PPC.N: Quote, Profile, Research, Stock Buzz), the largest U.S. chicken producer, on Tuesday reported a larger loss for its latest quarter as high feed prices hurt results.

Wall Street analysts, on average, were expecting a profit.

For its first fiscal quarter, ended Dec. 29, the Pittsburg, Texas-based company lost $32.33 million, or 49 cents per share, compared with a year-earlier loss of $8.74 million, or 13 cents per share.

The results included a one-time income tax charge of $13 million, or 20 cents per share.

Minus the one-time item, the loss would have equaled 29 cents. On that basis, Wall Street analysts, on average, expected a profit of 34 cents per share, according to Reuters Estimates. (Reporting by Bob Burgdorfer; Editing by Steve Orlofsky)