Brazil’s JBS Foods to delay IPO — October 21, 2014

Sao Paulo | Reuters — JBS SA received regulatory approval to delay an initial public offering of its JBS Foods unit in Brazil, according to a securities filing on Tuesday, putting off a plan to raise four billion reais (US$1.61 billion) for a few more weeks or until next year. The Sao Paulo-based food processor […]

Cargill loses bid to stop ex-manager from working for rival — October 21, 2014

Reuters — A federal judge has denied Cargill’s attempt to block a former executive of its meat-packing unit from working for rival JBS to prevent the potential loss of trade secrets. U.S. Judge Raymond Moore in Denver ruled on Monday that although Jason Kuan “did once have specific knowledge of Cargill’s trade secrets, his knowledge […]

U.S. official urges deal on COOL clash — October 21, 2014

Washington | Reuters — A negotiated solution is the best way to resolve a trade dispute with Canada and Mexico over meat labeling in the short term, a U.S. official said Monday. A World Trade Organization compliance panel said earlier the U.S. has not done enough to change its country-of-origin labeling (COOL) rules after losing […]

Klassen: Feeder cattle experience volatile price action — October 21, 2014

Western Canada’s feeder cattle prices traded in an volatile fashion this past week due to uncertain economics and beef demand uncertainty. Early in the week, auction barns were reporting values steady with week-ago levels; however, buying enthusiasm started to wane by Wednesday and prices were $3-$5 per hundredweight (cwt) lower by the weekend. Feedlot operators […]

Investment firm SHV bids US$3.4B for feed firm Nutreco — October 20, 2014

Amsterdam | Reuters — SHV, a family-owned Dutch investment firm, has reached a conditional agreement to buy animal feed and nutrition company Nutreco for 2.7 billion euros (US$3.4 billion), expanding into food-related businesses. The offer of 40 euros per share is a premium of 42 per cent to the stock’s closing price on Friday and […]

U.S. livestock: Fund buying lifts CME live cattle to new high — October 20, 2014

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures hit a new high on Monday, sparked by active fund buying that triggered buy stops and short-covering, traders said. October closed up 2.85 cents per pound at 167.9 cents after earlier posting a new contract high of 167.925 cents in electronic trading (all figures US$). […]

A+W tightens chicken supply requirements — October 20, 2014

Canada’s No. 2 burger chain, in the midst of a bid to carve out new market space for its beef and eggs, now plans to differentiate its chicken burgers and chicken strips in the same way. A+W Food Services on Monday announced the latest step in its “Our Ingredients Guarantee” campaign, pledging it will “only […]

Revised U.S. COOL law still breaks trade rules, WTO panel finds — October 20, 2014

A World Trade Organization compliance panel has ruled the U.S. government offside in its latest attempt at a trade-compliant country-of-origin labelling (COOL) law on meat. Following a long-awaited public release Monday, the ruling may give Canada and Mexico the ammunition to demand COOL be scrapped, on pain of retaliatory tariffs against a range of U.S.-made […]

U.S. livestock: CME live cattle close weak; hogs higher — October 17, 2014

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed down slightly on Friday after investors digested this week’s prices for market-ready or cash cattle, traders said. October closed down 0.2 cent per pound to 165.05 cents, and December 0.25 cent lower at 165.05 cents (all figures US$). Cash cattle this week sold steady […]