Randall Parker Food Group

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Randall Parker Food Group

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Randall Parker Food Group

Uruguay cattle prices higher and stable

The industry press to adjust prices down and farmers resist.

As anticipated, the market is heading for a gradual decline. Although the industry persists in order to adjust to the low prices maintained a significant demand.

The producer resists prices going down, supported by favorable climate and good forage situation, therefore, they regulate their offer.

The export steers were traded between USD3.70 and USD3.75 per kilo, while the lightweight ones between USD3.65 and USD3.70 per kilo in second scale.

Moreover, for the cow is easier to close deals and prices range from USD3.50 to USD3.55 per kilo. The Cattle Shippers Association (GCA) the steer fell a cent to USD3.73, and the cow remained at USD3.53.

In sheep the operation is locked, the sharp drop given by the industry is pulling down prices. The lamb is around USD3.30 per kilo and sheep at USD2.45.

The industry continues to head prices down, but it is being difficult to close deals. Consequently, plants are short in their charges, which range from three to four days.

In the replacement market, with lower supply, prices will stabilize and begin to rebound from the lows they hit a couple of weeks ago in the screen shots.

The weekly cattle slaughter, predictably, rose for the fourth consecutive week and stood for the week ended November 10th at 43,769 animals, the most since June. He had a weekly gain of 5%, but remained 1.6% lower than the same week in 2011, when it began to affect water shortages. Of all categories, the steers were 24,141, the highest number since last June and 18,859 cows, 43% of the total.

The activity became establishments led Canelones with 4125 heads, second Cledinor in 3073, third in 3041 Tacuarembó; PUL with 2758, and Las Piedras in 2684, to name the top five.
Canelones was the stronger in cows with 2195 head and in steers it was Las Piedras with 1923 steers.

The slaughter of sheep fell by 10.3% and was 39.6551 weekly heads, was 12.7% lower than the same week in 2011. The activity led by the Chiadel establishments with 5425 head, second and third Carrasco with 5037, then San Jacinto with 4941.

Export prices of beef fell and after five weeks were below the USD4000/MT.  For the week ended November 3 stood at USD3774/MT, with an average of the last four weeks fell to USD3963/MT.

The exported volume was 6182MT. The average export price during the last four weeks was 1.3% lower than the same week of 2011

A total of 40,000 metric tons of broiler meat are expected to be imported into Ghana from the United States by the end of 2012, the US Department of Agriculture (USDA) has projected.

The Department’s value of the projected volume of poultry export is estimated at $50 million, according to a data presentation released by the USA Poultry and Egg Export Council (USAPEEC).

In 2011, about 30,000 metric tons of broilers valued around $32 million were exported from the US to Ghana.

The least metric tons exported from the US into the country were about 2,000 with a value less than $5million, according to the USDA data.

As import of broilers from the US rise, local production of broiler in Ghana continues to dwindle as most farmers have shifted to the production of layers.

The import jump has been attributed to the level of broiler consumption in Ghana. Indeed official US data shows that Ghana consumes more broilers than it produces.

According to USDA figures, local broiler production has not risen up to 30,000 metric tons before since 2000 till date as the country’s consumption of the chicken has jumped from over 20,000 metric tons in the year 2000 to over 160,000 metric tons in 2011.

According to the USDA, broiler meat consumption in Ghana per capita stood at 6.8 kilogrammes (kg) in 2011 and over 7kg in 2012. It projected that the per capita consumption will increase to 7.5kg in 2013.

With the figures given by the USDA, it has now become clear that importation of chicken which is often seen as killing Ghana’s poultry industry is rather catering for the shortfall.

via Ghana Business News » US to export $50m worth of broiler meat to Ghana end of 2012.

JBS SA, the world’s biggest beef producer, posted a third-quarter profit of 367 million reais ($178 million) on Tuesday, driven by its strong beef business in Brazil and recovering U.S. poultry operations.

A weaker Brazilian currency also helped JBS recover from a quarterly loss of 68 million reais a year ago.

The company said it benefited in the last quarter from an improved cattle cycle in Brazil, which has made more animals available for slaughter. JBS has also expanded its beef processing capacity in Brazil by 8,000 heads per day.

JBS’s Mercosul unit, which includes its operations in Brazil, Argentina, Uruguay and Paraguay, slaughtered 2.03 million heads of cattle in the quarter, compared to 1.72 million heads in the same period a year ago.

Third quarter profit missed a 404 million reais average estimate in a Reuters poll of analysts, as tax liabilities from recent acquisitions weighed on the bottom line.

JBS started out as a family butcher in Brazil and shot to the top spot in beef globally through an aggressive takeover strategy, which it has recently resumed. JBS bought local poultry producer Agrovento in November after leasing Frangosul assets controlled by French poultry producer Doux earlier in the year.

JBS’s U.S. chicken unit Pilgrims Pride Corp. reversed a year-ago loss despite a sharp rise in corn prices in the period thanks to cost reduction measures. Brazil’s currency, the real, was also 14 percent weaker in September than a year earlier, boosting U.S. revenues in local terms.

Earnings before interest, tax, depreciation and amortization, a gauge of operating profit known as EBITDA, rose 75 percent from a year ago to 1.38 billion reais in the quarter, in line with analysts’ estimates.

JBS said in a separate filing that its board of directors had approved the incorporation of subsidiary Cascavel Couros, a leather processing factory, and said it expected annual savings of $10 million through resulting tax gains and cost reductions.

via UPDATE 1-Meatpacker JBS earnings rise on Brazil beef boom | Reuters.

Brazilian meat packing company Marfrig Alimentos SA (MRRTY, MRFG3.BR) Monday said it plans to sell up to 141.75 million shares in an exercise which could amount to 1.5 billion Brazilian reais ($740 million).

Marfrig will use the money from the sale of shares to reinforce its capital structure.

The company has hired Bank Of America Merrill Lynch, Bradesco BBI, Itau BBA, BB Investimentos, Deutsche bank and BAnco Santander to coordinate the operation.

Marfrig said that some of the shares being offered may be acquired by BNDESPar, the equity arm of Brazil’s National Development Bank, the BNDES. It added, however, that the bank is still evaluating the operation.

BNDEs officials could not be immediately reached for comment.

Investors can reserve shares from Nov. 21 to Nov. Dec. 3, said Marfrig, whose shares ended Friday down 2.72% at BRL10.70.

via Brazil Marfrig to sell up to 141.8M shares – MarketWatch.

The rejection of at least nine chilled beef containers produced by a major Argentine packer, found to be contaminated with E.Coli 157, has spiced up the trade gossip at a particularly tense time of year. A routine health and safety check in a Hamburg restaurant first identified the potentially fatal strain or E.coli 157.

Escherichia coli O157:H7 is an enterohemorrhagic strain of the bacterium Escherichia coli and a cause of food-borne illness, transmission is via the fecal-oral route and most illnesses have been associated with eating undercooked, contaminated ground beef, drinking contaminated water or eating contaminated vegetables

Last year in Germany 48 people died of this very same bug which was traced to imported beansprouts, the same strain was and  banned in Ground beef by the USDA in 1994 . The bacterium can be destroyed  by heating up to 75 C and as such meat is highly unlikely to be a risk if cooked correctly.

The trade is concerned that the EU veterinary authority may decide to take drastic action to eliminate this potential danger.

Informa Economics raised its estimate for the US soybean crop less than many investors had expected, and unexpectedly cut its hopes for corn output, but the data provided only temporary relief to crop futures on a weak day for risk assets.

Informa lowered its estimate for the US corn crop by some 450m bushels 10.7bn bushels, citing a yield which it saw at 122.4 bushels per acre, below the previous forecast of 127.0 bushels per acre.

For soybeans, the yield estimate was raised, but by a 0.8 bushels per acre to 37.8 bushels per acre, adding an extra 65m bushels to the crop.

The figures were – unexpectedly – less upbeat than those released by FCStone on Thursday, amid a run of updates by analysts ahead of the next US Department of Agriculture Wasde crop report next week.

Ahead of Informa’s report, Richard O’Brien at RJ O’Brien said “I fear that Informa will confirm larger” output for both crops, while rival broker US Commodities forecast “bearish estimates”.

However, after the results, Tregg Cronin at CHS Hedging said that the data were “not as bearish as I thought they’d be”, adding that they boded well for investors hoping for a bullish outcome to next week’s USDA’s Wasde briefing.

“Informa has been above the USDA nine times on corn and soybeans [production] and below only once last 10 years,” ahead of November Wasde reports, he said.

Pre-Wasde corn estimates

FCStone – yield, 124 bushels per acre; production, 10.881bn bushels

Informa Economics: yield, 122.4 bushels per acre; production, 10.738bn bushels

Current USDA estimate: yield, 122.0 bushels per acre; production, 10.706bn bushels

via Grain, soybean prices dip despite Informa data.

JBS SA, the worlds largest beef producer, said on Monday it signed a deal to buy local poultry processor Agroveneto for 128 million reais $63.02 million just months after its first move into Brazils poultry sector.  JBS will acquire Agroveneto, which specializes in ground poultry meat, by taking on its debts plus giving the owners 10 million reais worth of JBS shares.  JBS began poultry operations at home in Brazil for the first time this year when it leased the assets of Frangosul, controlled by French poultry producer Doux.  Brazil is one of the worlds top producers and exporters of chicken meat.  JBS shares traded on Sao Paulos BM&FBovespa stock exchange were down 1.31 percent early on Monday at 6.80 reais per share.  The giant Brazilian meat company grew from humble origins as a small family-run meat packing plant acquired in 1988 through a rapid wave of acquisitions whose pace has since slowed in the last couple of years.

via Meat packer JBS to buy Brazil poultry producer for $63 mln | Reuters.