This excerpt taken from the PDA 6-K filed Jul 20, 2009.
PRINCIPAL FACTORS AFFECTING OUR RESULTS OF OPERATIONS
Our results of operations, financial condition and liquidity have been, and will continue to be, influenced by a broad range of factors, including:
· Brazilian and global economic conditions;
· the effect of trade barriers and other import restrictions;
· concerns regarding avian influenza and other animal diseases;
· the effect of demand in our export markets on supply in the domestic market, including the effect of actions by our major Brazilian competitors and of temporary increases in supply by producers in other countries;
· commodity prices;
· exchange rate fluctuations and inflation;
· interest rates; and
· freight costs.
We describe these factors in greater detail below.