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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.

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.

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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.

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