DIRS.INFO The most relevant business & tech news

☆ Montana Has More Cows Than People. Why Are Locals Eating Beef From Brazil?
▼ + stars: | 2024-06-13 | by ( Susan Shain | Rebecca Stumpf | ) www.nytimes.com time to read: +1 min

“Making It Work” is a series is about small-business owners striving to endure hard times. While many people can conjure up romantic visions of a Montana ranch — vast valleys, cold streams, snow-capped mountains — few understand what happens when the cattle leave those pastures. Even here, in a state with nearly twice as many cows as people, only around 1 percent of the beef purchased by Montana households is raised and processed locally, according to estimates from Highland Economics, a consulting firm. As is true in the rest of the country, many Montanans instead eat beef from as far away as Brazil. Any ranchers who want to break out from this system — and, say, sell their beef locally, instead of as anonymous commodities crisscrossing the country — are Davids in a swarm of Goliaths.

Persons: don’t, JBS, Tyson, Davids Organizations: Highland Economics, Tyson Foods, Cargill, Foods, Walmart, Costco Locations: Montana, Brazil

☆ Cultivated Meat’s Empty Promise of Revolution - The New York Times
▼ + stars: | 2024-02-09 | by ( Joe Fassler | ) www.nytimes.com time to read: +1 min

It is a gleaming vision of a world just beyond the present: a world in which meat is abundant and affordable with almost no cost to the environment. Meat without killing is the central promise of what’s come to be known as cultivated meat. Between 2016 and 2022, investors poured almost $3 billion into cultivated meat and seafood companies. Two of the leading companies — Eat Just and Upside Foods, both startups — reportedly achieved billion-dollar valuations. And today, a few products that include cultivated cells have been approved for sale in Singapore, the United States and Israel.

Persons: what’s, —, Qatar Investment Authority —, Tyson, Cargill, Leonardo DiCaprio, Bill Gates, Richard Branson . Organizations: Qatar Investment Authority, JBS, Foods Locations: Temasek, Singapore, United States, Israel

☆ US reduces beef exports as cattle herd shrinks, squeezing Tyson Foods
▼ + stars: | 2023-11-10 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

The decline in cattle numbers, after years of drought fried pasture lands used for grazing, led to soaring U.S. beef prices. Higher prices incentivize companies to import cheaper beef and discourage U.S. beef purchases by buyers like China, Japan and Egypt. For Tyson, the loss of U.S. export business compounds margin pressure from higher cattle prices, Goldman Sachs analysts said. U.S. beef exports typically command higher margins than domestic shipments, they said. The USDA on Thursday raised its forecasts for beef imports in 2023 and 2024 in a monthly report.

Persons: Amira Karaoud, world's, Tyson, Cargill, Pete Bonds, Bonds, Goldman Sachs, Donnie King, Katelyn McCullock, McCullock, Derrell, Tom Polansek, Rod Nickel Organizations: Corydon , Indiana U.S, REUTERS, Rights, Tyson, U.S . Department of Agriculture, USDA, U.S ., U.S, Marketing, Center, Oklahoma State University, Thomson Locations: Corydon , Indiana, United States, China, Japan, Egypt, Texas, U.S, Tyson's, Florida, South Carolina, Australia, New Zealand, Paraguay, Paraguayan, Mexico

☆ Chicken, Pork Prices Made Higher by Meatpackers’ Data Feed, DOJ Says
▼ + stars: | 2023-09-28 | by ( Patrick Thomas | Dave Michaels | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/justice-department-sues-provider-of-chicken-and-pork-data-6945b8ff

Persons: Dow Jones

☆ The Autoworkers Go on Strike
▼ + stars: | 2023-09-15 | by ( David Leonhardt | More About David Leonhardt | ) www.nytimes.com time to read: +1 min

(Here is the latest Times coverage of the United Auto Workers strike that began this morning.) But history shows that the potential for a strike, and sometimes the reality of one, is necessary for workers to receive healthy raises and ensure good working conditions. The decades after World War II are rightly remembered as a time when the American middle class was expanding rapidly. In the 12 months after World War II ended, almost five million Americans, or roughly 10 percent of the work force, went on strike, including autoworkers, film crews in Hollywood, steel workers, coal miners and meatpackers. During the 1950s — a supposedly conformist decade — more than 1.5 million workers went on strike every year on average.

Organizations: United Auto Workers Locations: American, Hollywood

☆ Brazilian farmer's giant rooster hobby hatches into profitable business
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

[1/5] FILE PHOTO-Agronomist Rubens Braz poses with his Giant Indian Urubu rooster named Galalau at the Avicultura Gigante, which breeds giant roosters for small-scale meat production and ornamental purposes, in Formosa, Goias State, Brazil September 1, 2023. REUTERS/Ueslei Marcelino/File Photo Acquire Licensing RightsBRASILIA, Sept 13 (Reuters) - When farmer Rubens Braz started breeding Brazilian chickens, he had no idea how big the operation - or the birds - would get. Some twenty years later, he now raises giant roosters for small-scale farming and hobby purposes in central Brazil and is making a living from surging sales across the country. His birds, called "Giant Indian Roosters," can grow over 120 centimeters (47 inches) tall. As the global avian flu crisis has put a damper on business this year, limiting the transport of live animals in Brazil, Braz said he has focused on supplying fertilized eggs to nearby farmers.

Persons: Rubens Braz, Gigante, Ueslei Marcelino, Braz, Avicultura Gigante, Isadora Machado, Ana Mano, Brad Haynes, Alexandra Hudson Organizations: roosters, REUTERS, Rights, Indian Roosters, Alexandra Hudson Our, Thomson Locations: Formosa, Goias State, Brazil, Rights BRASILIA, Goias

An aerial view shows trees as the sun rises at the Amazon rainforest in Manaus, Amazonas State, Brazil October 26, 2022. REUTERS/Bruno Kelly/File Photo Acquire Licensing RightsBRASILIA, Aug 17 (Reuters) - Brazil's government is looking to create a regulated carbon market with emissions caps for major companies and protections for indigenous communities involved in carbon-offset activities, a senior official said. After passing Congress, the regulations would require two years of emissions monitoring before the cap takes effect. For example, some developers have approached indigenous communities with unfair contracts offering meager payments, he said. The proposed legislation would establish criteria for such deals, guaranteeing broad consensus and equitable terms for indigenous communities involved.

Persons: Bruno Kelly, Rafael Dubeux, Luiz Inacio Lula da Silva's, Lula, Dubeux, Marcela Ayres, Bernardo Caram, Brad Haynes, Devika Organizations: REUTERS, Rights, Finance, Climate, Thomson Locations: Manaus, Amazonas State, Brazil, Rights BRASILIA

[1/2] President of the Central Bank of Paraguay Carlos Fernandez Valdovinos speaks during an interview with Reuters in Asuncion, Paraguay July 31, 2017. REUTERS/Jorge Adorno/File photoASUNCION, Aug 1 (Reuters) - Paraguay is seeking more Taiwanese investment to diversify its farm-driven economy focused on exporting raw materials to China, incoming Finance Minister Carlos Fernandez Valdovinos said in an interview. Paraguay remains the only South American nation with formal diplomatic relations with Taiwan, which China claims as its own territory. A Taiwan delegation including business leaders will travel to Paraguay in August for the inauguration of conservative President-elect Santiago Pena, he added. China, as a buyer of raw materials from Paraguay with no added value, "is probably convenient for some sectors," Fernandez said.

Persons: Central Bank of Paraguay Carlos Fernandez Valdovinos, Jorge Adorno, Carlos Fernandez Valdovinos, Fernandez, Santiago Pena, Pena, Jair Antonio de Lima, Lima, Lucinda Elliott, Daniela Desantis, Richard Chang Organizations: Central Bank of, Reuters, REUTERS, Gross, Thomson Locations: Central Bank of Paraguay, Asuncion, Paraguay, ASUNCION, China, Taiwan, CHINA, PARAGUAY Paraguayan, Beijing, Brazil, Uruguay, Paraguayan, United States, Japan, South Korea, Ukraine

Over the next year, meatpackers said they had a hard time recruiting enough workers to fully run their plants. Ranchers held on to cattle, adding to costs to keep them longer than usual. When they could get their cattle in to meat processors, they got less for the animals amid the excess supply.

Persons: meatpackers

☆ Tyson Foods aims to resume slaughtering pigs in mid May at Nebraska plant
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

CHICAGO, May 9 (Reuters) - Tyson Foods Inc (TSN.N) plans to resume slaughtering pigs in mid-May at a Madison, Nebraska, pork plant damaged by fire two weeks ago, the meatpacker said on Tuesday. The extended halt to slaughtering comes as weak consumer demand for pork and low prices are squeezing margins for meatpackers and hurting hog farmers. The Madison plant is doing limited "further processing" work, she said, after hogs are slaughtered elsewhere. The company previously said it was repairing the plant and expected it to resume production the second week of May. U.S. meatpackers slaughtered an estimated 451,000 hogs on Tuesday, down from 470,000 hogs a week ago and 478,000 hogs a year ago, the U.S. Department of Agriculture said.

May 8 (Reuters) - Tyson Foods Inc (TSN.N) shares plunged 16% to a three-year low on Monday as the U.S. meatpacker posted a surprise second-quarter loss and cut its full-year revenue forecast following a decline in prices for its beef and pork. CEO Donnie King, who is seeking to cut costs, said Tyson remains in an unusual position of facing challenges in its beef, pork and chicken businesses at the same time. The company cut its forecast for fiscal year 2023 sales to $53 billion to $54 billion from $55 billion to $57 billion. Reuters GraphicsSales volumes in Tyson's beef segment also fell 3% in the quarter, putting overall sales down 8.3% at $4.62 billion. The company pegged full-year beef margins at negative 1% to positive 1%, compared with its previous forecast of 2% to 4%.

May 8 (Reuters) - Tyson Foods Inc (TSN.N) posted a surprise second-quarter loss and cut its full-year revenue forecast on Monday as prices for its beef and pork have declined, sending the U.S. meatpacker's shares tumbling 9% before the bell. CEO Donnie King, who is seeking to cut costs, said meat markets are challenging and Tyson is focused on improving profit margins. The company lowered its forecast for fiscal year 2023 sales to $53 billion to $54 billion from $55 billion to $57 billion. Average sales prices of beef and pork fell 5.4% and 10.3%, respectively, in the quarter ending April 1. Sales volumes in Tyson's beef segment also fell 3%, leaving the unit's overall sales down 8.3% at $4.62 billion.

☆ Shrinking US cattle herd squeezes meatpacker profits
▼ + stars: | 2023-05-04 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

Cargill, the world's largest ground beef producer, expects cattle prices will rise further, but it is still a question whether higher beef prices will ruin consumers' appetites, company executives said. Big profits for meatpackers during the pandemic and soaring beef prices fueled concerns in the Biden administration about consolidation and profiteering in the sector. The companies say supply and demand determine cattle and beef prices. In 2023, "the cattle feeder can negotiate more of the consumer dollar," said Brett Gottsch, managing partner Gottsch Cattle Co, which raises cattle in Nebraska. Gottsch remains concerned about a lack of competition among meatpackers, though others said surging cattle prices show the market works.

☆ US meatpacker JBS opens cleaning unit after outside firm fined for hiring kids
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

The new company, JBS Sanitation, will "immediately begin the transition" to cleaning 10 JBS USA facilities, which produce beef and pork, according to a statement issued this week. JBS Sanitation will also do in-house cleaning for Pilgrim's Pride Corp (PPC.O) and create "hundreds of union jobs," the statement said. JBS USA is the North American unit of Brazil's JBS SA (JBSS3.SA), which also owns most of Pilgrim's Pride. JBS USA did not immediately respond to questions about the costs of the launch on Thursday. JBS USA previously said it terminated contracts with PSSI at "numerous" facilities, including three plants where alleged child-labor violations occurred.

The timeline shows the challenges of quickly finding and implementing replacements for Packers Sanitation Services Inc (PSSI), which provides cleaning services at slaughterhouses. "We made the decision to terminate the agreements with PSSI," Hans Kabat, who leads Cargill's protein business in North America, told Reuters. Cargill said it notified PSSI in March that it was terminating services at a beef plant in Dodge City, Kansas, and then followed with all PSSI's sanitation contracts. One of the largest penalties stemmed from PSSI's contracts at Cargill's plant in Dodge City. Cargill, the world's largest ground beef producer, is reviewing options for cleaning plants, Kabat said.

☆ Hard work just doesn't pay like it used to
▼ + stars: | 2023-04-05 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

Today's workers, especially gig workers, don't have the security that hard work once promised. Fueling the pessimism about hard work might be that Americans have "been doing nothing but hard work for the last two decades," Jennifer Klein, a Yale labor historian, told Insider. Blame the rise of gig work for hard work not paying offThough Americans work fewer hours now than they have in years past, they're working harder than ever. As a result, "people have experienced hard work and intensified work, but in very, very unpleasant and not particularly rewarding terms," she added. However, deregulation of employment and the dismantling of the New Deal structures of fair work have decoupled hard work and security, Klein said.

Lula departs for China this weekend, but many executives and lobby groups have traveled ahead of the president, government officials said. JBS representatives said the company aims to bolster commercial ties with China, a key trading partner. In a statement, ABPA said they are seeking recognition from Beijing that Rio Grande do Sul and Parana are free of foot-and-mouth disease without vaccination, in order to export pork with bones and pork offal. China buys 44% of Brazil's pork exports by volume and around 14% of its chicken exports, according to ABPA data for the first two months of 2023. Some 62% of Brazil's beef exports went to China last year.

SAO PAULO (Reuters) -The confirmation of more bird flu cases in South America raised alarm bells in Brazil, which remains free of contagion even after its close neighbors Argentina and Uruguay confirmed cases there on Wednesday. Until now, bird flu cases had been detected in commercial farms in Bolivia, which borders Brazil, and in Peru and Ecuador, Favaro said. On Wednesday, cases in wild birds were confirmed in Uruguay and Argentina, sparking a health emergency in both. In recent days, Brazil also investigated suspected cases of the highly pathogenic bird flu. It has never registered a bird flu case.

☆ Tyson Foods Profit Tumbles as Costs Rise and Demand Weakens
▼ + stars: | 2023-02-06 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

Tyson said consumers are spending more on its less expensive food products. Tyson Foods Inc. reported its biggest percentage drop in quarterly profit in over a decade, signaling how higher costs and slackening demand are squeezing the U.S. meat industry. Executives of the Springdale, Ark., company, the largest U.S. meat processor by sales, said that meat supplies have been growing, while consumers shift their purchasing in response to a softening U.S. economy. Meatpackers meanwhile continue to pay more for transport, animal feed and plant worker wages, cutting into profits.

☆ Main road to Brazil's Paranagua port, major grain export hub, still blocked
▼ + stars: | 2022-11-01 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

REUTERS/Ricardo MoraesSAO PAULO, Nov 1 (Reuters) - The main access road to Brazil's Paranagua port, the country's second busiest for grain exports, remained blocked by political protesters on Tuesday, according to a statement from the port authority, hobbling shipping from one of the world's top food producers. Farm states like Santa Catarina, where many meatpackers operate, and Mato Grosso, Brazil's biggest grain producer, were among the most affected by the protests that started after polls closed on Sunday, police data showed. The port authority at Santos, Latin America's biggest port, said things were normal as protests had not disrupted its terrestrial operations, according to a statement sent to Reuters. Yet due to bad weather, navigation in the port's estuary has been suspended since 4:00 a.m. (0700 GMT), the statement said. Reporting by Ana Mano Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ Lower cattle prices to fatten Brazilian meatpackers' margins, analysts say
▼ + stars: | 2022-10-24 | by ( Nayara Figueiredo | ) www.reuters.com time to read: +2 min

SAO PAULO, Oct 24 (Reuters) - A decline in Brazilian cattle prices this year and strong demand for the country's beef exports will widen Brazilian meatpackers' margins in the short term, according to analysts, though weakness in the domestic market could undercut those gains. "The margins of slaughterhouses that export has improved," said Alcides Torres, director of Scot Consultoria. Beef prices in Brazil have been dropping on the back of a higher number of cattle coming to market as well as the more aggressive negotiating stances adopted by foreign buyers, especially China. A weaker yuan currency has pushed China, which accounted for almost 53% of Brazilian beef purchases in September, to press for discounts from sellers in the South American nation, Safras & Mercado analyst Fernando Iglesias said. Brazil's beef exports in October have already surpassed those from the same month in 2021, according to government data.

Search resuls for: "meatpackers"

21 mentions found