Morgan Stanley Keeps Overweight on Sanderson Farms as Feed Costs Nudge Margins Lower
Morgan Stanley says rising feed costs linked to the Iran conflict have reduced its short-term per-head profit estimates for hog producers in 2026, even as the futures curve continues to imply modestly higher year-over-year profitability. Packer margins, pork cutout movements and input-cost shifts in corn and soybean meal round out the market pictur…