I disagree with your approach, even though I think you will probably be close on price for the qtr. First, if you were correct and margins were 10c EBIT per dozen, that would put the below 60c eps, less than consensus of 70c. I think the main point we disagree on is that nearly 1/4 of sales are produced by third parties. This is a spread business and the costs go up to a similar extent as egg prices for that business, so the higher prices primarily only go to the bottom line for 3/4 of the business. My language of a "landslide" miss is probably aggressive. But I do think they are on track to miss, assuming normal Thanksgiving seasonality.

Again, looking past November, I think the industry will be stuck with a lot of inventory that they will cut each other's throats for to unload.

If you still disagree on my estimates, please explain why. Otherwise, let's discuss again when we know what November looks like. Also, let's see what Land O' Lakes has to say when they report. Should give some additional insight into September and the current market.