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Financial

Money makes the world go round and the meat industry is no different. Deals are always being brokered and currency fluctuations are a key issue for any global meat trader.

Bullish outlook for global poultry industry

Pricing across the global poultry market is expected to remain bullish, despite the recent Russian ban, according to a new report by Rabobank.

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FAO Meat Price Index up

The Food and Agriculture Organisation of the United Nations (FAO) Meat Price Index averaged 207.3 points last month – up 1.2% (2.5 points) off July’s revised value.

Cherkizovo to invest RUB4bn in pork and poultry

Russian meat giant Cherkizovo Group is to invest RUB4bn (US$104m) in the expansion of its pork and poultry production facilities in Voronezh.

Investment in Canadian livestock genetics announced

The Canadian Livestock Genetics Association (CLGA) is to benefit from CA$1.6m-worth of government funding.

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McDonald’s sees significant sales drop in APMEA

Global fast food chain McDonald’s has seen sales drop 14.5% in the Asia/Pacific, Middle East and Africa (APMEA) region.

Hilton Food Group grows in Western Europe

Specialist retail meat packing business Hilton Food Group has seen continued growth in Western Europe, which has helped push up profit after tax by 1.8%, to £10.2m, for the 28...

Shake-up at Meat and Livestock Australia, as industry grumbles about funding

Meat and Livestock Australia (MLA) will cut its budget by 10% of its operating costs and plans on revamping its research programme, amidst grumbles from the industry about its funding...

Ukraine meat industry fights to preserve tax breaks

Ukraine’s Agricultural Ministry has decided to extend the preferential tax regime on most agricultural enterprises until the end of 2014, following pressure from the unions representing the country’s meat producers...

Danish pork sector to lose DKK1.6bn to Russia through Moscow ban

Danish meat industry organisations estimate that Russia’s meat embargo will cost the country’s pig farming industry around DKK1.6bn (US$282m/€215m) in 2014.

Terms of Tyson Foods/Hillshire Brands merger finalised

Tyson Foods announced the completion of its merger with Hillshire Brands last week, in a move which positions Tyson as "a clear leader in the prepared foods business", according to...

Meat industry in Lithuania suffers heavy losses over ASF and Russian sanctions

Meat producers in Lithuania have reported heavy losses due to the continuing spread of African swine fever (ASF) and the sanctions on meat supplies to Russia.

Global investor takes share of Chinese poultry player

KKR & Co, a global investment firm, has come to a definitive agreement with Chinese poultry producer Fujian Sunner Development Co, to invest around $400m in the business, in return...

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Profit uplift seen for Sanderson Farms

A strong performance in the third quarter has seen sales and income up at US poultry business Sanderson Farms.

Vion announces investment in Bavaria

Dutch food group Vion is to double the pork processing capacity at its Landshut plant in Bavaria, as part of a multi-million euro investment in its Bavarian plants.

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Meat farmers to receive funding from USDA

A US farm in Loudon, New Hampshire has been highlighted as one of nearly 250 operations to receive a portion of a $25m funding pot designed to help rural businesses...

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JBS sees net income rocket

JBS has reported a 32% increase in net income, to R$29bn, for the second quarter of 2014, compared to the same period last year.

Sales up for Smithfield Foods

Smithfield Foods has posted a 14% increase in sales for the three months to 29 June 2014.

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US pork price shows signs of weakening

The price of US pork has declined from the earlier highs seen at the beginning of 2014, following the outbreak of porcine epidemic diarrhoea virus (PEDv), according to Mintec’s latest...

McDonald’s sees drop in global sales following China meat scandal

Declining sales at McDonald’s in Asia have contributed to total comparable  sales drop of 2.5% in July.

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Cargill sees earnings up in Animal Nutrition and Protein arm

US-based Cargill said earnings rose "significantly" in its Animal Nutrition & Protein business, reflecting the positive impact of recent acquisitions.

China’s biggest pork company WH Group succeeds in Hong Kong IPO

WH Group, China’s largest pork company and a major shareholder in Henan Shuanghui Investment & Development Co, which acquired Smithfield Foods for US$7.1 billion in 2013, has successfully floated on...

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Devro highlights progress in China

Scottish collagen casing manufacturer Devro said it had made "significant progress" on its business developments in China, in its interim results for the six months to 30 June 2014.

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Pilgrim’s Pride reports achieves increased EBITDA

JBS subsidiary Pilgrim’s Pride has reported a significant increase in EBITDA from $264.6m to $338.6m in the second quarter of 2014.

JBS subsidiaries to acquire Tyson Foods’ poultry businesses

Tyson Foods is to sell its Mexican and Brazilian poultry business to JBS subsidiaries in a deal worth a total of $575 million.

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Feed price fall promises boost for South African poultry firm

South African poultry company Astral Foods expects a boost, due to lower maize and soya prices, according to Investec research.