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TheMeatSite Newsletter - 11 September 2013

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TheMeatSite
Wednesday 11th September 2013.
Chris Harris - TheMeatSite Editor in Chief

Chris Harris
Editor in Chief


Shuanghui Smithfield Acquisition Go-ahead Despite Challenges

The Committee on Foreign Investment in the United States has given the green light for the takeover of Smithfield Foods by the Chinese pig meat processor Shuanghui.

The deal still has to be approved by the Smithfield shareholders and a challenge still remains from venture capital group Starboard Value, who has called for a halt to the sale so that a fresh US bid can be mounted.

The takeover and any challenge should come to a head on 24 September at a special shareholder meeting.

The move has been welcomed by the CEO of Smithfield C Larry Pope and Shuanghui said the merger will create a leading global animal protein company.

However, the takeover is still facing opposition from some sections of the pig industry.

The US National Farmers’ Union is concerned that it will hit family farmers and ranchers in the US.

“Our domestic livestock markets are already largely non-competitive and foreign-backed control will only make the situation worse," said NFU president Roger Johnson.

The NFU said the deal is a dangerous precedent for food security and market competition.

In another move, the Bangkok trader caught insider trading ahead of the announcement of the Smithfield Shuanghui acquisition has agreed a settlement of $5.2 million dollars in a North Illinois court.

Badin Rungruangnavarat made more than $3 million in illicit profits just days before the deal was announced, but the US Securities and Exchange Commission managed to freeze his brokerage account to prevent illegal profits being made.

Meanwhile in the report of the latest results for Smithfield, the company showed an operating loss in the fresh pork division for the first quarter of the year while packaged meats saw sales rise by 10 per cent.


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This Week's Articles and Analysis

Tracking Antibiotic-resistant Salmonella from Farm to Fork
Continuing research on Salmonella may enable researchers to identify and track strains of antibiotic resistant bacteria as they evolve and spread, according to researchers in Penn State's College of Agricultural Sciences.

GLOBAL POULTRY TRENDS 2013 - Asia Produces One-third of World's Broilers
Global growth in chicken meat production is slowing down but Asia maintains its share of the total, according to long-time industry watcher, Terry Evans, in the new series of 'Global Poultry Trends' for ThePoultrySite in 2013.

Red Meat Contributing to Scottish Economy
Farming and processing of red meat makes a significant contribution to the Scotland’s economic output, according to the profile of the red meat sector in 2012 produced by Quality Meat Scotland.

Production of Entire Males: The Effect on Welfare and Meat Quality
Surgical castration of pigs at an early age is carried out in most countries to prevent boar taint, increase intramuscular and subcutaneous fat content for certain quality products and prevent aggressive behaviour, writes Dr Antonio Velarde, IRTA, Animal Welfare Subprogram, Finca Camps I Armet, 17121 Monells, Girona, Spain.

Receiving Sufficient Molybdenum in Diets
An adequate human intake of the mineral molybdenum is 65 micrograms per day, according to research carried out for the European Food Safety Authority.

Company News

Sonac to Launch New Digestible Natural Protein
FRANCE - Sonac, supplier of high quality animal-based proteins, fats and minerals, will be launching an improved, highly digestible natural protein source for all species at this year’s SPACE exhibition, in Rennes, France.
Market Reports

Portland Fish Exchange Prices - 4 September 2013
USDA International Egg and Poultry - 11 September 2013
Portland Fish Exchange Prices - 10 September 2013
Portland Fish Exchange Prices - 9 September 2013
BPEX Weekly Export Bulletin - Week 36
Portland Fish Exchange Prices - 8 September 2013
BPEX UK Pig Meat Market Update - 5 September 2013
Portland Fish Exchange Prices - 5 September 2013
USDA National Dairy Products Sales Report- 5 September 2013

Global Meat Industry News

   Brazil

Russia Ukraine Hong Kong Main Markets for Brazilian Pork
Weak Currency Boosts Brazilian Beef Exports
Brazilian Pork Prices Weaker - Broiler Beef Prices Up

   United States

ConAgra Foods Lowers Financial Expectations
Farm Bill Needed to Create Jobs
Northern Beef Packers in Fresh Finance and Sale Bid
Pork Repeats Strong Demand
CME: Cattle Futures Close Down
Hog Outlook: Rise in US Pork Exports
NFU Direction to Congress on Renewable Fuels, COOL, Farm Bill
CME: No Block on Sale of Smithfield to Shuanghui
Ohio Study Shows Potential of Campylobacter Vaccine
CME: December Cattle Traded Down on Thursday
Thai Trader Agrees $5.2m Settlement over Smithfield Insider Trading
Packaged Meat Sees Smithfield's Sales Up
Go-ahead for Smithfield-Shuanghui Merger
July Pork Exports Rise; Beef Exports Set 2013 High
China Offers New Prospects for USMEF in Pork Marketing
Chicago Meat Processor Fined over Safety
Tyson Sponsors Online Scholarship Competition
USDA Criticised over Poultry Inspection Projects
Perdue Releases Corporate Responsibility Report
Call for Abstracts for IPPE 2014
Call for Protection for Poultry and Meat Processing Workers
CME: Restaurant Operators’ Outlooks Turning Negative

   United Kingdom

Partnership is Key to Campylobacter Reduction
Ad Campaign on Simple Pleasures of Beef and Lamb
Are Confidence Issues Slowing UK Organic Sales?
Census Shows Drop in Cow Numbers
LMC: Base Quotes Rise
EBLEX Explores Export Opportunities in Africa
Farmbox Meats Frozen Meat Strips Recalled
New Investors for Bernard Matthews
UK Average Pig Prices on the Rise
Benefits in EU-US Trade Agrement
NOAH Films Reach to Consumers over Animal Medicines and Food Chain
Consumers Urged to Avoid Pesticide Residues

   Colombia

Strikes in Colombia over Trade Agreements

   Russian Federation

Foot and Mouth Disease in Trans Baikal

   European Union

Large Quantities Force EU Pig Prices Down

   Australia

Tallow Pushes Rise in Co-product Values
China Takes Growing Share of Australian Red Meat Exports
Beef Offal Exports Keep Pace with Slaughter

   Korea, South

Seasonal Demand Boosts Australian Beef Exports to Korea

   France

French Pig Industry in Partnership with Bright Food

   Spain

Spanish Milk Production Dips in July
Sustainable Dairy Campaign for Spain

   Norway

Norwegian Crabs Free from Metals and Toxins

   Malta

Maltese Meat Production Increases

   Philippines

Iodized Salt Recommended in Meat Products

   Viet Nam

Viet Nam Hog Markets

   Global

OSI Establishes Global Trading Platform
Positive Outlook for Global Poultry Sector
FAO Food Price Index Fall Continues

   Thailand

Trucks Block Poultry Company to Demand Payment

Events/Promotions

Global Poultry Trends 2011

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