The world's second-largest processor of fresh beef and pork products Swift & Company has reported net sales of $2.33 billion for its fiscal second quarter ended November 27, 2005, down 6% from the fiscal second quarter 2005. Net sales declined in all three business segments. Selling price improvements in Swift Australia and Swift Beef and a volume increase in Swift Pork were more than offset by volume declines in Swift Australia and Swift Beef and a selling price decline in Swift Pork.

Swift Beef's fiscal second quarter net sales decreased 4% to $1.342 billion compared with $1.394 billion in the prior year period. Selling price increases of 4% were accompanied by volume declines of 8% as sustained high prices for finished box beef products allowed customers to look to relatively lower priced proteins such as pork and poultry.

Swift Pork's fiscal second quarter net sales declined 5% to $541 million from $572 million in the prior year period. Average selling prices declined 10% and sales volumes increased by 6%. Decreases in selling prices were partially attributable to deterioration in demand caused in part by a return to normal seasonal consumer buying patterns.

Swift Australia's net sales decreased 13% to $458 million compared with $526 million in the prior year period. Average selling prices increased 2% and sales volumes declined by 15%.