Maple Leaf’s sales and profits increase

 

Maple Leaf Foods reported first-quarter net earnings from continuing operations of $46.1 million, nearly three times as much as the $16 million earned last year.

Sales increased by 6.2 per cent to $962.9 million from $906.7 million last year. Poultry sales were up by 11.7 per cent, The company hiked prices enough to cover increased chicken advertising.

President Curtis Frank, who is also the company’s chief executive officer, said the results came from “disciplined execution” of its strategic plan and operating efficiency, favourable product mix and cost management.

Net debt declined by $544 million to roughly $1 billion after Maple Leaf spun off Canada Packers which now runs its hog farms and Canada’s largest pork-packing plant at Brandon, Man.

Trump to suspend 26 per cent beef tariffs

 

United States President is poised to suspend beef tariffs of 26.4 per cent, reports the Wall Street Journal.

However, after that prompted opposition from beef farmers, the White House said it is still pondering its beef tariff strategy.

South American countries would be glad to gain more access to the U.S. market. The United Kingdom ecently signed a trade deal that includes a 26.4 per cent tariff on any beef beyond 13,000 tonnes.

Argentina had been allowed up to 20,000 tonnes until February when Trump increased it to 100,000 tonnes.

Australia has 449,482 tonnes, New Zealand 213,000 and Uruguay 20,000.

For those amounts, the tariff had been 4.4 cents per kilogram.

Soon unlimited amounts will be able to come in at the 4.4 cents per kilogram.

Canada and Mexico face no beef tariffs; they are covered by the free trade agreement among the three countries.

However, as more imports enter the U.S., it will free up some domestic U.S. supplies to enter the Canadian and Mexican markets, meaning Trump’s aim to reduce beef prices will impact Canadian farmers and meat packers.

The North American beef cattle numbers are at their lowest in more than 40 years, resulting in high and still-rising retail beef prices.

Robert Fuller appointed

Robert Fuller of Simcoe has been appointed vice-chairman of the Normal Farm Practices Review Board for a two-year term.

The board holds hearings when people complain about farm-related issues such as noises, dust and traffic and it determines whether or not they arise from normal farm practices.

Fuller is a lawyer who specializes in agriculture, business, wills and estates.

Tyson agrees to pay $47 million

 

Tyson has agreed to pay $47 million to settle a class action lawsuit that alleged beef price-fixing.

The lawsuit was filed on behalf of commercial and institutional indirect purchasers such as restaurants and covers purchases between Jan. 1, 2015, and May 6, 2026,

The covered products include brisket, chuck, loin, rib and round cuts, excluding ground beef, trim, USDA Prime products and further processed items.

The settlement involves Tyson Foods Inc. and Tyson Fresh Meats Inc. Tyson did not oppose the motion for preliminary approval.

The litigation against Tyson and other released parties will remain stayed pending final approval of the settlement. The order stated the settlement does not constitute an admission of wrongdoing or liability by Tyson.

Proposition 12 to be curbed

 

The United States House of Representatives has passed a new farm bill that includes a provision curbing California’s animal welfare rules from impeding pork from other states that do not meet the standards set out in Proposition 12.

The National Pork Producers Council called the vote a “massive victory” but it must pass the Senate to become law.

Proposition 12 has hindered the sale of Canadian pork to the United States if the buyer sells into California.

Among Proposition 12 rules is a ban on housing sows in gestation crates and minimum space requirements for housing pigs.

CFIA suspends Tigi’s Legacy licence

 

The Canadian Food Inspection Agency has suspended the licence for Tig’s Legacy Collections Inc. of Longueuil, Que.

The CFIA said it failed to keep satisfactory import controls and traceability records.

The company’s main business is women’s fashion clothing.

Pseudorabies prompts trade bans

Canada and Mexico have announced some trade bans on pork from the United States after a recent discovery of pseudorabies antibodies in breeding stock in Iowa.

Canada has banned pig snouts.

Mexico, which is the biggest export market for U.S. pork, is banning non-muscle pork.

The bans are still under negotiation, the U.S. said.