Smithfield Foods Contemplates U.S. Stock Market Re-entry Amid Sectoral Challenges
WH Group’s 2013 acquisition of Smithfield Foods for $4.7 billion marked one of the most significant U.S. business buyouts by a Chinese entity at the time. This led to Smithfield’s delisting from the New York Stock Exchange. Subsequently, WH Group went public in Hong Kong in 2014, amassing more than $2.3 billion. The potential re-entry […]
September Sees Strong Chicken Sales Amid Changing Consumer Habits
September Overview As September ushered in cooler weather and the return of children to school, the proportion of meals prepared at home rose to 78.8%, according to Circana‘s primary shopper survey. This trend aligns with patterns observed in 2021 and 2022, where home cooking generally increases during the autumn and holiday seasons. Financial Pressures and […]
New Tool from USDA Reveals Impact of Foreign Trade on US States
The United States Department of Agriculture’s (USDA) Foreign Agricultural Service has introduced a new digital tool aimed at illustrating the effects of U.S. trade agreements at the state level. The USDA stated, “Every state boasts signature food and farm products that have gained international recognition. From Wisconsin’s dairy and California’s wine to Florida’s citrus fruits […]
Ocean Freight Rates Experience Upward Shift: Oil Prices and Chinese Economic Activity as Principal Factors
Ocean freight, a cornerstone in the U.S. wheat export sector, accounts for 90% of all outbound shipments. Recent developments indicate a reversal in maritime transportation costs, following a period of relative stability. Rate Fluctuations and Contributing Elements Ocean freight rates, which had been on a declining path since autumn 2022, have recently begun to ascend. […]
Beef Packing Expansion Amidst Declining Cattle Numbers
The beef packing sector is experiencing a growth in construction projects, despite a noticeable decrease in the national cattle herd. The Upper Iowa Beef plant, which processes nearly 470 cattle daily, primarily exports its beef to retailers on the East Coast and to 11 countries in Asia. Even with a national reduction in cattle processing, […]
Beef Packers Accused of Price-Fixing in New Lawsuit
A recent lawsuit has been lodged against the four leading beef packers in the U.S., alleging them of manipulating prices over several years, as per documents from the federal court. The lawsuit claims that from 1st January 2015 onwards, Cargill, JBS USA, Tyson Foods, and National Beef Packing Co. – who together oversee over 80% […]
U.S. Senators Propose Butcher Block Act to Aid Meat Processors
Legislative Move Senators Jerry Moran and Michael Bennet introduced a new legislative proposal, the Butcher Block Act. The initiative aims to bolster small and medium-sized meat processing facilities financially. The funding, in the form of loans and grants, would be administered by the U.S. Department of Agriculture (USDA). A corresponding bill is also under consideration […]
Lebanon County to Discuss Grazing Sheep Under Solar Arrays Based on Recent Survey
Presentation on Producer-Led Organization The Lebanon County Extension office is set to host a discussion this week, focusing on the necessity for a producer-led organisation to manage contracts for grazing sheep under large-scale solar arrays. This comes in the wake of a study by Cornell University’s Cooperative Enterprise Program, titled “New Dawn for Shepherds,” which […]
US Pork Industry Experiences Slight Uptick in Inventory but Remains Cautious
According to recent data from the US Department of Agriculture (USDA), the US pork industry has seen a modest increase in its hog and pig inventory, although this does not necessarily indicate a return to profitability or an intention to ramp up production. Inventory Levels and Market Expectations As of 1 September 2023, the all […]
Red Meat Production: Rising Trends, Poultry Faces Modest Challenges – USDA Report
In a recent USDA report, the outlook for red meat production has taken a positive turn, while there are slight downward revisions for poultry expectations. Let’s dive into the key findings presented in the USDA report: Beef Production: The USDA’s latest estimates indicate a robust beef production forecast, set to reach an impressive 27 billion […]
