Fear of avian flu affecting poultry industry

UNDATED - The fear of avian flu in export markets is beginning to take its toll on the U.S. poultry industry, economically.

Pilgrim's Pride, the second-largest poultry producer in the U.S. and Mexico, has cut its short-term profit outlook by more than half and withdrew guidance for its current fiscal year, blaming the fear of avian flu in export markets.

After the announcement earlier this week, shares of the company fell to a 52-week low.

Company officials say less than 10 percent of the Pilgrim Pride's revenue comes from exports, and the outbreak of avian flu that began in Asia has not affected domestic sales.