Animal Protein Company News
Pilgrim’s Pride Analysts predict a decline in earnings for Pilgrim’s Pride due to missing key ingredients for an earnings beat. Meanwhile, Norden Group LLC has purchased 8,968 shares, joining other large investors, and the company saw a 50% reduction in short interest in June, despite a 4.7% year-over-year revenue increase last quarter.
Lerøy Seafood Group Investor concerns arise regarding Lerøy Seafood Group’s returns on capital, indicating potential challenges ahead for the company.
Mowi A High Court judge ruled in favor of a judicial review against Mowi Ireland’s 2021 salmon farm licence for Bantry Bay. The salmon industry successfully opposed a proposed safety limit on pesticides, and Mowi is considering closing two processing facilities, highlighting challenges in the farmed salmon industry.
Trident Seafoods Trident Seafoods’ Ultimate Fish Stick is criticized for being one of the unhealthiest frozen fish sticks available.
Lamb Weston A class action lawsuit has been filed against Lamb Weston Holdings, Inc. for investors seeking to recover losses. Rosen Law Firm is encouraging investors to join the lawsuit, and Janney Montgomery Scott LLC holds $2.77 million worth of stock in the company, with several hedge funds adjusting their stakes.
Pig News Pig farmers are required to declare their animals next month to help control Aujeszky’s disease. Including mycotoxin binders in pig and poultry feed can result in higher egg production and mitigate risks. Additionally, a pig was captured during a crime crackdown in East Lake, with authorities waiting for its owner to claim it.
Alltech The equine healthcare market is expected to grow significantly, with companies like Alltech playing a key role. The poultry feed premix industry is also anticipated to grow, with Alltech contributing to this trend. Francis Derwin Jnr won his fourth Alltech National Grand Prix at Maryville.
AB Agri JBS Foods Canada will expand its beef processing capabilities thanks to an Agri-Processing Investment Tax Credit from Alberta.
Carrs Group Carr’s Group’s stock price has surpassed the 50-day moving average, indicating positive momentum in the agriculture and engineering sectors.
Nutrien Nutrien Ltd. shares experienced a slight increase despite underperforming the broader Canadian market and closed higher despite market volatility.
Wens Foodstuff Group Wens Foodstuff Group shareholders have faced a significant 38% loss, indicating challenges in the livestock and poultry farming industry.
Meat News The Australian Government is investing over $100 million in research and development for the red meat and livestock industry in 2024-25, indicating growing trade opportunities for Aussie beef.
Land O’Lakes Land O’Lakes is facing financial struggles and potential bankruptcy. Beth Ford of Land O’Lakes is recognized nationally along with other Minnesota women CEOs, and the company highlights sustainability initiatives, including water usage reduction, nutrient management, and carbon sequestration, in celebration of Dairy Month.
Animal Protein Market Report
US Beef Exports
Japan, Mexico, and Taiwan have significantly boosted US beef export values. In June, the export value reached over $900 million, as reported by the US Meat Export Federation (USMEF).
Dairy Producers and Net Zero Initiative
UI extension specialists are helping dairy producers work towards the dairy net-zero initiative. Despite this support, many producers remain skeptical about the feasibility of achieving this ambitious goal.
African Swine Fever (ASF)
There has been a significant reduction in African swine fever cases in Europe during the first half of 2024, affecting both domestic pigs and wild boar. However, Thailand has reported its first ASF outbreak of the year in Chiang Mai, involving a farm with 70 pigs. In Vietnam, the situation is more severe, with 42,400 infected pigs culled so far this year. China’s Q2 pork output has also declined compared to last year due to weak demand.
Smithfield Foods
Smithfield Foods, the world’s largest pork processor, is gearing up for an initial public offering (IPO) in the United States. The company has secured major financial backing from prominent banks, including Bank of America.
USMEF Networking Event
The US Meat Export Federation (USMEF) recently held the third edition of “MEAT IN” CALI 2024, a networking event designed to connect importers and potential customers in Cali, Colombia.
US Pork Exports
US pork exports in May were below last year’s levels, but they still demonstrated broad-based strength according to USMEF.
Illegal Meat Products from the Philippines
The Food Safety and Inspection Service (FSIS) has issued a public health alert after discovering eight illegal meat products imported from the Philippines.
Bird Flu in Colorado
Colorado has confirmed four human bird flu infections among poultry workers, with a fifth case suspected. The infected individuals have shown only mild symptoms.
European Aquaculture
Hungary has begun its six-month term of the EU council presidency with a focus on advancing the development of the European aquaculture sector.
Prebiotics for Salmon and Shrimp
A new prebiotic developed by GreenSage Prebiotics has shown great promise in recent trials. The prebiotic has significantly improved feed conversion ratios (FCRs) and survival rates in farmed shrimp and salmon, paving the way for its commercial launch.