Foods reported a profit for its fourth quarter of $394 million, up from $391
million a year before. The beef segment
led the company, as the operating margin for beef products doubled in the
fourth quarter. Tyson also said it
expects to reach deals to sell three businesses, including its Sara Lee Frozen
Bakery, within the next few months as it focuses on its protein-related
business units. The company also
announced it was buying Original Philly Holdings, Inc., the maker of
Philadelphia-style cheesesteak products.
Beef Packing reported income before tax of $174.5 million in the third quarter,
a record for any quarter. Through the
first nine months of the year, National's pre-tax income totaled $310 million,
making it likely that it will have a record-large year, besting last year's
mark of $329.1 million.
vote to increase the Oklahoma beef checkoff by $1 failed, with 2,506 producers
voting "No" versus 1,998 voting "Yes". The vote followed the theft of $2.6 million
by a former employee of the Oklahoma Beef Council who pled guilty to fraud
China's second-largest retailer and e-commerce company, has signed agreements
to purchase $200 million of Montana beef over the next three years. The company says it will purchase beef from
the Montana Stock Growers Association, Cross Four Ranch, and other MSGA
members. JD also announced it will buy
$1 billion worth of US pork over the three years from Smithfield Foods, which
is owned by Shanghai-based WH Group. In
addition, JD says it intends to invest up to another $100 million to build a
new processing facility in Montana to support Montana beef production. The packing plant news was met by industry
skepticism due to the small numbers of Montana cattle that satisfy China's
"natural" beef requirements and the regulatory process that must be
followed to build a new packing plant.
JD.com plans to sell the meat products directly to its 258 million Chinese
customers in more than 100 cities on its platform.
Beef Packing announced a $30 million expansion of its production plant in
Moultric, Georgia. The project includes
a facility expansion as well as new processing and packaging equipment, and is
scheduled to be completed in the fourth quarter of 2018.
Ron Seeber has been named as
president and CEO of the Kansas Grain and Feed Association. He will succeed Tom Tunnell who held the
position more than 37 years. Seeber
joined KGFA in 2008 and was promoted to senior vice president of government
affairs in 2011. Seeber will also be
the president and CEO of KGFA's longstanding management contractors, Kansas
Agribusiness Retailers Association and Renew Kansas.
DowDuPont plans to sell its
30-million-gallon-per-year capacity cellulosic ethanol plant in Nevada, Iowa,
nearly two years after it opened. The
$225 million plant, which is still in the start-up process, was expected to
purchase about 375,000 tons of corn stover within a 30-mile radius of the plant. The company's decision to sell is part of an
ongoing cost-reduction strategy undertaken following the DuPont and Dow merger.
USDA Secretary Sonny Perdue
selected David Schemm as the FSA Director for Kansas. Schemm has served as President of both the Kansas Association of
Wheat Growers and the National Association of Wheat Growers. Perdue appointed Lynne Hinrichson as Rural
Development State Director for Kansas.
Hinrichsen joined the Kansas Department of Agriculture in 2013 as the
Agribusiness Development Director.
California farmers will be
prohibited from spraying pesticides within a quarter mile of public K-12
schools and licensed daycare centers from 6:00 AM to 6:00 PM during the school
week according to a new rule announced by the California Department of
Pesticide Regulation. The new
regulations take effect January 1, 2018, and apply to crop dusters flying over
fields, air blasters spraying orchards, and fumigants along with most dust and
The USDA estimated the
Kansas corn yield on the November Crop Production report at 136 bushels per
acre, down 6 bushels from last year, and the average soybean yield at 40
bushels per acre versus 48.0 last year.
The Nebraska corn yield was estimated at 179.0 (178) and the soybean
yield at 58.0 (61). The average corn
yield in Missouri was 175 (163) and the soybean yield was 49, equal to last