(LAUREL, MS) -- Sanderson Farms, Inc. reported fiscal third quarter net income of  $28.7 million. This compared to a net loss of $55.7 million for the third quarter of fiscal 2011.

As part of its earnings reports, Sanderson Farms' chairman and CEO Joe F. Sanderson Jr. said third quarter results reflect improved market conditions. “Market prices for poultry products were higher than the third quarter of fiscal 2011. These prices reflect steady retail grocery store demand and lower production."

The earnings reports comes at the same that the company announced that it has selected a site in Nash County for a new chicken processing plant near Rocky Mount. A timetable on when construction would begin has not been set. The project will also include a new hatchery.