8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 10, 2009

Cagle’s, Inc.

(Exact name of registrant as specified in its charter)

Georgia	1-7138	58-0625713
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)
1385 Collier Road NW, Atlanta, GA		30318
(Address of principal executive offices)		(Zip Code)

(404) 355-2820

(Registrants telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02  Results of Operations and Financial Condition

ITEM 9.01  Financial Statements and Exhibits

EXHIBIT INDEX

Ex-99.1 Press Release dated November 10, 2009

SIGNATURES

The following exhibits are filed with this Report:

Exhibit No.	Description
99.1	Press release of Cagle’s, Inc. dated November 10, 2009

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Cagle’s, Inc.
(Registrant)
Date: November 10, 2009
By:	/s/  Mark M. Ham IV
	Mark M. Ham IV
	Executive Vice President and
	Chief Financial Officer

2

EX-99.1

Exhibit 99.1

Atlanta, Georgia

November 10, 2009

Symbol:  CGL-A

PRESS RELEASE

FOR IMMEDIATE RELEASE

Cagle’s Inc. Announces Results for Second Quarter Ended October 3, 2009

Cagle’s Inc. reported net income of $ 0.7 million or $0.15 per share for the second quarter of fiscal year 2010 compared to a net loss of $5.5 million or $1.18 per share for the second quarter of fiscal 2009. For the first six months of fiscal 2010 net income was $2.0 million or $0.43 per share compared with a net loss of $8.5 million or $1.82 per share for the first six months of fiscal 2009.

Revenues for the second quarter were $ 87.6 million up 15.8 % and pounds sold increased 14.7% both influenced by a fourteen week period in 2010 versus a thirteen week period in 2009. For the six month period revenues were $165.6 million up 8.5%  and sales pounds increased 4.9% again influenced by the additional week in the first two quarters of fiscal 2010 as compared to the same period in fiscal 2009. Quoted market prices for the second quarter of fiscal 2010 versus the same period last year fluctuated as boneless breast increased 6%, breast tenders increased 22%, wings increased 49%, drums decreased 14%, leg quarters were 24% lower and whole birds without giblets were 6% less.

Cost of sales for the second quarter of fiscal 2010 increased 2.7% as compared with the same period last year, from $79.7 million to $81.8 million reflecting the previously mentioned additional week in the period and a 14.7% increase in pounds sold coupled with an 8.6% reduction in the cost of feed. For the first six months of 2010 cost of sales was $153.5 million down 2.4% from fiscal 2009.

Wet weather across the mid-west has delayed and possibly damaged what appeared to be a record crop in both corn and soybean meal causing feed prices to increase as we enter our third quarter. Poultry producers continue to exhibit restraint with egg sets 3% less than the same quarter of 2008 and 7% below the July - September period in 2007. Producers of pork, beef and turkey have been slower to contract resulting in an excess of protein on the world market as demand remains problematic.

Cagle’s Inc.

/s/ J. Douglas Cagle

J. Douglas Cagle

Chairman, Chief Executive Officer and President

Forward-Looking Statements:

Statements contained in this press release that state the intentions, hopes, beliefs, anticipations, expectations or predictions of the future of Cagle’s Inc. and its management are forward looking statements. It is important to note that the actual results could differ materially from those projected. Factors that could cause actual results to differ materially from those project in such forward-looking statements include: additional outbreaks of avian influenza or other diseases affecting the production performance and/or marketability of the Company’s poultry products; matters affecting the poultry industry in general, including fluctuations in the commodity prices of feed ingredients and chicken; contamination of our products leading to product liability claims and recalls; exposures to risks related to property damage and injuries to persons for which insurance is limited and potentially inadequate; management of our cash resources, particularly in light of our substantial leverage; trade barriers; changes in laws or regulations affecting our operations as well as competitive factors and pricing pressures; and the impact of uncertainties of litigations as well as other risk factors.

Cagle’s, Inc.

Condensed Consolidated Balance Sheets

(In Thousands)

	October 3, 2009 (Unaudited)		March 28, 2009
ASSETS
Current Assets	$	44,304	$	42,798
Other Assets	9,898		11,571
Property, Plant, and Equipment (net)	35,415		36,783
TOTAL ASSETS	$	89,617	$	91,152
LIABILITIES & STOCKHOLDERS’ EQUITY
Current Maturities of Long-term Debt	$	2,601	$	2,488
Trade Accounts Payable	18,745		19,989
Other Current Liabilities	7,937		7,642
Total Current Liabilities	29,283		30,119
Long-Term Debt	25,850		29,049
Total Stockholders’ Equity	34,484		31,984
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY	$	89,617	$	91,152

Cagle’s, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In Thousands, except net income per share)

	14 wks ended			13 wks ended			27 wks ended			26 wks ended
	10/03/2009			09/27/2008			10/03/2009			09/27/2008
Net Sales	$	87,570		$	75,632		$	165,585		$	152,553
Costs and Expenses:
Cost of Sales	81,819			79,702			153,527			157,279
Selling and Delivery	2,275			2,355			4,472			4,687
General and Administrative	1,985			1,532			3,650			2,724
Total Costs and Expenses	86,079			83,589			161,649			164,690
Operating Income (Loss)	1,491			(7,957		)	3,936			(12,137		)
Other Income (Expense):
Interest Expense	(415		)	(606		)	(857		)	(1,095		)
Other Income (Expense), Net	3			(4		)	5			(16		)
Total Other Income (Expense), Net	(412		)	(610		)	(852		)	(1,111		)
Income (Loss) Before Income Taxes	1,079			(8,567		)	3,084			(13,248		)
Income Tax Expense (Benefit)	388			(3,084		)	1,110			(4,769		)
Net Income (Loss)	$	691		$	(5,483	)	$	1,974		$	(8,479	)
Weighted-Average Common Shares Outstanding	4,615			4,662			4,617			4,662
Net Income (Loss) Per Common Share	$	0.15		$	(1.18	)	$	0.43		$	(1.82	)