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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.

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.

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Chinese investment group takes stake in Spanish firm

Spanish food and wine group Osborne has teamed up with Chinese private investment group Fosun in a bid to grow both its domestic and international markets.

JBS Foods confirms Brazilian poultry acquisition

JBS Foods has signed a deal with Brazilian poultry firm Céu Azul Alimentos to acquire two processing plants in Guapiaçu and Itapetininga, Paulo, for approximately BRL$246m ($110m).

Multi-million euro fines handed out for sausage price-fixing

An independent German competition authority has dished out fines totalling €338m to 21 sausage manufacturers, as well as fines to 33 individuals, involved in price-fixing activity.

Poultry prices on growth curve

Global poultry prices are taking off, leading to improved profitability for the global poultry industry, according to Rabobank.

Global beef market prices forecast to strengthen

The global beef market is set to regain its positive momentum in the third quarter of the year once the current high supply has worked its way through the system,...

EU revises guide prices for poultry imports

The European Commission has revised guide prices for a range of poultry imports – if the value of exports exceed these levels, the European Union (EU) can impose additional duties...

Austrian firm plans Serbian meat company purchase

Austria’s Gerlinger is planning to acquire insolvent Serbian meat processor Mitros.

Ukraine chicken firm investment aims to boost flailing economy

The International Finance Corporation (IFC), of the World Bank, is lending US$250 million to Ukraine’s leading poultry producer Myronivsky Hliboproduct (MHP) to help kickstart the country’s flailing economy.

India set to increase meat presence globally

India is poised to take a larger step on to the world stage when it comes to meat, delegates to the World Meat Congress were told.

Ukraine struggles to double quotas for EU meat exports

Ukraine intends to achieve an increase in duty-free quotas for agricultural products to the European Union (EU), according to representatives from the Ministry of Agrarian Policy and Food.

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Further investment for Canadian pig industry

An investment of more than CA$1m has been announced for the Canadian Swine Exporters Association (CSEA), in order to boost international recognition of its purebred swine genetics.

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Hillshire Brands withdraws recommendation on Pinnacle Foods purchase

Chicago-based US firm Hillshire Brands has announced that its board of directors has unanimously decided to withdraw its recommendation to acquire Pinnacle Foods.

Additional funding awarded to Canadian livestock industry

Saskatchewan livestock producers are set to benefit from two new research projects, worth nearly CA$1m.

Tyson Foods tables highest offer for Hillshire

Tyson Foods placed a second and final bid for Chicago-based Hillshire Brands, to acquire all the outstanding common shares of the business for $63 per share, in cash.

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Chinese meat company announces strategic partnership

Chinese hog and poultry producer COFCO Meat has announced a strategic partnership with a consortium of investors.

USDA announces multi-million dollar investment in fight against pig disease

The United States Department of Agriculture (USDA) has pledged $26.2 million in funding to combat the threat of pig disease.

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Global meat prices remain stable

Global pig prices only registered a slight increase, according to the latest Food and Agriculture Organisation of the United Nations (FAO) Food Price Index, despite the current impact of Porcine...

Canadian government looks to improve swine industry

The Canadian swine industry has received CA$13m in investment from the government, in order to aid the development of the sector.

Hillshire Brands responds to takeover bids

US firm The Hillshire Brands Company appears to be the subject of a bidding war, with a number of unsolicited proposals to buy the business – from Tyson Foods and Pilgrim’s Pride....

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Sanderson Farms doubles net income

US poultry firm Sanderson Farms has posted net income of $51m for the second quarter ended 30 April 2014 – double that of the same period last year ($24.4m).

Astral posts significant profit increase in H1

South African poultry producer Astral Foods delivered a 260% increase in operating profit by R213m, in its interim results for the six months to 31 March 2014.

Russian poultry firm Cherkizovo reports mixed results

Russia’s largest meat and fodder producer Cherkizovo Group has revealed an increase in revenue of 13% in local currency the rouble (RUB), for the first quarter ending 31 March 2014.

Hormel announces big jump in earnings

US firm Hormel Foods Corporation achieved record group sales of $2.24bn in its second quarter, up 4%. However, the firm announced that due to "lower anticipated hog supplies" it would...

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