May 24, 2017  



Today's News Summary:

 Headlining today's news is a focus on how construction began this month on a new state-of-the-art Jennie-O Turkey Store processing plant in Melrose, Minn. More than $137 million will be invested in the building and state-of-the-art processing equipment that will increase the production capabilities and plant efficiency, in addition to enhancing the companyís already robust animal handling practices.

In other news, new details have emerged on what U.S. beef producers may have to do to export their product to China, but the industry still awaits specifics that will determine the size of the opportunity ahead, the U.S. Meat Export Federation said Tuesday. Producers would be required to track the locations where cattle raised for beef exported to China are born and slaughtered, under a U.S. proposal that has been accepted by Beijing, Reuters reported Monday, citing the USDA.

Elsewhere, Brazil's JBS SA and its controlling shareholders, facing financial fallout from a corruption scandal, have hired Banco Bradesco SA's investment banking unit to work on a plan to sell several assets. Members of the billionaire Batista family, which owns about 42 percent of JBS, are looking for ways to raise cash after prosecutors demanded they pay an 11 billion-reais ($3.36 billion) fine to settle allegations they bribed scores of politicians, one of the people said.

Back in the States, a father and son whose Iowa-based egg production company caused a massive 2010 salmonella outbreak cannot further appeal their sentences for misdemeanor food safety violations, according to the U.S. Supreme Court. The highest U.S. court declined to hear the appeals of Austin "Jack" DeCoster and his son, Peter DeCoster, without comment Monday. U.S. District Judge Mark Bennett sentenced the DeCosters each to three months in prison in April 2015, saying they knew or should have known about the risks posed by the presence of salmonella in and around millions of egg-laying hens. But he allowed the DeCosters to stay free while they appealed the sentences, which they argued were unconstitutional and unreasonably harsh

Finally today, proposing to carve more than $4 billion out of the Agriculture Departmentís budget, the administrationís 2018 spending blueprint fails to recognize agricultureís current financial challenges or its historical contribution to deficit reduction, according to American Farm Bureau Federation President Zippy Duvall.


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By Linda Lindner

llindner@foodmarket.com


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