Pilgrim''s Pride closing chicken facilities

According to Reuters, Pilgrim''s Pride Corp said recently it will close a chicken processing complex and almost half of its U.S. chicken distribution centers as it tries to cope with soaring feed costs and an oversupply of chickens.

The company said it will take a charges of about $35 million, or 33 cents a share after taxes, for the closures, which will eliminate about 1,100 jobs.