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☆ Why Americans are obsessed with peanut butter
▼ + stars: | 2023-07-14 | by ( Natalie Rice | ) www.cnbc.com time to read: +9 min

Skippy was the leading peanut butter brand in the U.S. until 1980, a title that now belongs to Jif. Pond, that became the first brand to commercially develop peanut butter in 1920, sparking the way we eat peanut butter today. "We've launched certain innovations specifically in Asian markets to help enable that type of cooking use for peanut butter. Domestically, Americans eat an average of 4.25 pounds of peanut butter per capita, a figure that increased temporarily during the Covid-19 pandemic, according to the National Peanut Board. As the family came together in the middle of the day, we saw that it introduced this love and affection for peanut butter to children who will hopefully carry that love and affection for peanut butter into [their] lifetime," he added.

Persons: Skippy, Joseph Rosefield, Peter Pan, Matt Smith, Circana, Costco's Kirkland, Smucker's, Jif, Smith, Rebecca Scheidler, they've, Ryan Christofferson, Christofferson, aren't, they're, Bob Parker, It's, it's, We've, Parker, Domestically, —, Scheidler Organizations: Equity Research, Stifel Financial Corp, Hormel Foods Corp, Post, Holdings, Foods, Hormel Foods, Spam, Unilever, Peanut Board, FDA, Hormel, National Peanut Board Locations: Jif, U.S, Chicago, Smucker, Uncrustables, Longmont , Colorado, McCalla , Alabama, Mexico, Canada, China

April 12 (Reuters) - A U.S. judge on Tuesday approved a $75 million settlement between Smithfield Foods Inc and a class of consumers who accused the pork producer of conspiring to restrict supply in order to keep prices artificially high. Pork consumers last year settled with Smithfield rival JBS SA for $20 million. The judge in a separate order on Tuesday awarded nearly $25 million in legal fees to the plaintiffs firms representing the consumer class. The consumer class attorneys said in a court filing in January that they'd spent more than 37,000 hours pursuing antitrust claims over four years. The case is In re Pork Antitrust Litigation, U.S. District Court, District of Minnesota, No.

CHICAGO, Nov 16 (Reuters) - Cooks may have to put away their oversized platters for serving turkey this Thanksgiving. If a farm has an outbreak, producers must disinfect their barns after culling turkeys and wait about six months before restocking. The National Turkey Federation acknowledged that cooks in some geographic areas could see limited supplies of big turkeys. On the U.S. East Coast, Baldor sees a shortage of the bigger sizes as large Thanksgiving celebrations make a comeback, Lindgren said. Shoppers are resuming traditional purchases of turkeys around 18 pounds, after downsizing their birds for smaller gatherings over the last two years, he said.

Companies Hormel Foods Corp FollowNov 15 (Reuters) - Hormel Foods' labeling of a meat product line as "natural" despite using the same hogs and production methods as its other brands shows the U.S. meat labeling system needs reforms, said consumer advocates and documents released on Tuesday from a lawsuit the company is close to settling. “This is an endemic problem, not a Hormel problem.”Hormel said the company complies with USDA rules and guidelines for labeling and that it stands behind its Natural Choice products. "The term ‘natural’ is practically unregulated and can/will be used widely – as a result there is little to no difference between ‘natural’ meat and ‘conventional’ meat," read the slides, which were part of the document release. The presentation also advised companies to appeal to consumers' desire for wholesome products by packaging their meat in cardboard. Hormel and ALDF asked the court to dismiss the case last Thursday after agreeing to settlement terms.

☆ U.S. nears record poultry deaths from bird flu; virus type complicates fight
▼ + stars: | 2022-10-18 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

This has spurred export bans, lowered egg and turkey production, and contributed to record prices of the staples ahead of the U.S. holiday season. Europe is already suffering its worst avian flu crisis, with nearly 50 million poultry culled. The United States is monitoring wild birds for avian flu in four migration paths known as flyways, up from two previously, and plans to do the same next year. "This virus could be present in wild birds for the foreseeable future," Sifford said. Minnesota-based Hormel Foods Corp (HRL.N), owner of the Jennie-O Turkey Store brand, said it expects avian flu to reduce its turkey production at least through March 2023.

☆ Smithfield Foods to pay $75 mln in pork price-fixing settlement
▼ + stars: | 2022-09-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Sept 27 (Reuters) - Smithfield Foods Inc has agreed to pay $75 million to settle a lawsuit by consumers who accused the meat producer and several competitors of conspiring to inflate prices in the $20 billion-a-year U.S. pork market by limiting supply. The accord follows the judge's Sept. 14 approval of a similar $20 million settlement between consumers and JBS SA (JBSS3.SA), one of Smithfield's largest rivals. The Smithfield, Virginia-based company, a unit of WH Group Ltd (0288.HK), denied liability but settled to avoid the uncertainty, risk and cost of litigation, settlement papers show. In the pork litigation, Smithfield previously reached settlements of $83 million with so-called "direct" purchasers such as Maplevale Farms and $42 million with commercial purchasers, a group that includes restaurants. The case is In re Pork Antitrust Litigation, U.S. District Court, District of Minnesota, No.

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