Turkey price-fixing winding up

 

Class-action lawsuits alleging price-fixing by turkey processing companies in the United States are winding up with federal court approval of a settlement for four companies.

 House of Raeford and Prestage Farms will be paying $18.7 million US to their customers; Purdue and Foster Farmers reached settlements earlier.

In total, $59 million has been paid in class-action lawsuits filed by various groups of customers of Butterball, Cargill, Cooper Farms, Farbest Foods, Foster Farms, Hormel, Jennie-O Turkey Store, House of Raeford, Perdue Farms, Prestage Farms and Tyson Foods.

Corn, soy prices boost farmers’ mood

 

Higher prices for corn and soybeans brought a turn-around in farmers’ moods in the United States, reported Purdue University.

The improvement in July ended three straight months of declines in Ag Economy Monitor it publishes every month based on a survey of about 700 farmers.

Yet only 13 per cent said their financial situation is better than a year ago. About a third of those surveyed said they expect to end the year better than last year.

Only about a half of farmers think the U.S. is headed in the right direction, a sharp decline from the 70 per cent average for the last six months.