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Today in Food Manufacturing

Daily news and top headlines for food manufacturing professionals

Daily Sound Bite: Future Rosy for Hormel

June 17, 2013 9:32 am

KeyBanc analyst Akshay Jagdale on Friday upgraded Hormel Foods Corp. stock from "Hold" to "Buy." Jagdale is optimistic about the company's future growth, citing a solid profit outlook for the company's Jennie-O Turkey division and its recent acquisition of Skippy.


Analyst Optimistic About Hormel’s Growth Opportunities

June 14, 2013 12:59 pm

A KeyBanc analyst on Friday upgraded Hormel Foods Corp. to "Buy" from "Hold," citing optimism about the company's prospects for growth. Akshay Jagdale, who also set a $48 price target, said that he came away from recent meetings with Hormel's management feeling more confident about the food company's plans to grow its existing businesses and the profit outlook for its Jennie-O-Turkey store division.


Wholesale Prices Rise 0.5 Percent in May

June 14, 2013 12:58 pm | by CHRISTOPHER S. RUGABER,AP Economics Writer

A rise in food and gas costs drove a measure of wholesale prices up sharply in May. But outside those volatile categories, inflation was mild. The Labor Department said Friday that the producer price index rose 0.5 percent in May from April. Gas prices rose 1.5 percent last month, and food costs increased 0.6 percent.


Consumer Trends: Food Enzymes Market Growing

June 14, 2013 12:48 pm

Growing demand for processed foods coupled with increasing awareness about health conscious products is significantly propelling growth in food industry, which in-turn is driving growth of the enzymes market. Foods Enzymes are biocatalysts which carry out specific functions in various application industries.


Daily Sound Bite: Potato Growers Accused of Antitrust

June 14, 2013 12:45 pm

An association of Kansas-based grocery stores is suing the United Potato Growers of America (UPGA) claiming the group used unfair business practices to fix potato prices. But the UPGA is claiming it is shielded by Capper-Volstead, a 1922 act that exempts agriculture cooperatives from antitrust laws.


Former Goya Foods President Dies at 88

June 14, 2013 12:36 pm

Joseph Unanue, who helped turn Goya Foods into America's largest Hispanic-owned food company, has died. He was 88. Unanue died Wednesday at his home in Alpine, Bergen County. His family said he died of natural causes. Unanue began working at Goya in 1952 and served as president of the Secaucus-based company from 1976 to 2004.


Launch of U.S.-EU Trade Talks Hits Snag

June 14, 2013 12:34 pm | by MARJORIE OLSTER,Associated Press

One of the big goals of President Barack Obama's upcoming trip to Europe may be in jeopardy, with French objections threatening to hold up the launch of negotiations on a sweeping U.S.-European Union free trade pact. The proposed Transatlantic Trade and Investment Partnership has raised great expectations of boosting growth and jobs by eliminating tariffs and other barriers that have long plagued economic relations.


Misbranded Beef Jerky Recalled

June 14, 2013 12:29 pm

United States Department of Agriculture officials said Wednesday that products manufactured by Eufaula-based Hickory Hollow Jerky, LLC contain Worcestershire sauce and anchovy paste. Officials say fish is a known allergen and should be listed on the product's labels.


Photo of the Day: Pricey Potato Scandal

June 14, 2013 12:25 pm

Potatoes are harvested at farm west of Idaho Falls , Idaho, in this September 2010 file photo.  A U.S. wholesale grocer says America's potato farmers are running an illegal price-fixing scheme, driving up spud prices while spying on farmers with satellites to enforce strict limits on how many tubers they can grow.


NYC Restaurant Owners Protest Foam-Container Ban

June 14, 2013 12:00 pm | by BETHAN MCKERNAN,Associated Press

A proposal to eliminate plastic foam takeout containers in New York City was met with criticism Wednesday by restaurateurs who said a ban on the ubiquitous containers would drive up costs and potentially put them out of business. Around 40 opponents bearing signs reading "Put a lid on it NYC" rallied on the steps of City Hall before a City Council meeting in which the ban on polystyrene foam containers was introduced.


Smithfield Foods 4Q Profit Plummets 63 Percent

June 14, 2013 9:56 am | by MICHAEL FELBERBAUM,AP Business Writer

Pork producer Smithfield Foods says its net income fell nearly 63 percent in the fourth quarter as it experienced lower hog prices, higher feed costs and a decline in exports to China and Russia. The results come amid the company's pending $4.72 billion takeover by the majority shareholder in China's largest meat processor.


The Latest Seafood Trend: Trash Fish Dining

June 14, 2013 9:54 am | by MICHELE KAYAL,Associated Press

Most people have only ever seen a scorpion fish in an aquarium. Unless they dine at Carolina Crossroads Restaurant in Chapel Hill, N.C., where they'll find the spiny, venomous creature on the menu. It's called trash fish dining, and it's catching on with chefs around the country searching for fresh ways to fill their menus with sustainable — and delicious — seafood.


Grocers Say Potato Group Pumped Up Spud Prices

June 14, 2013 9:31 am | by JOHN MILLER,Associated Press

A battle between grocers and potato growers has been silently hitting shoppers' pocketbooks, according to a U.S. wholesaler accusing America's spud farmers of driving up prices while spying on farmers with satellites and aircraft fly-overs to enforce strict limits on how many tubers they can grow.


Senators Ask Nickelodeon To Ban Kids’ Junk Food Ads

June 14, 2013 9:27 am | by JOHN RABY,Associated Press

Four U.S. senators are calling on children's cable network Nickelodeon to ban ads targeted at children that promote and sell junk food and sugar. A letter was sent this week to Nickelodeon and its parent company, Viacom Inc., by Democratic Sens. Jay Rockefeller of West Virginia, Dick Durbin of Illinois, Richard Blumenthal of Connecticut and Tom Harkin of Iowa.


Daily Sound Bite: Hostess Prepares for Rebirth

June 13, 2013 12:44 pm

After the purchase of Hostess Brands' assets by Apollo Global Management and Metropoulos & Co., the company's Dolly Madison plant in Columbus, Ga., is preparing to again begin production. The company plans to begin production by July, but it is unknown how many jobs the relaunch will create.


Coffee Holding 2Q Loss Widens

June 13, 2013 12:31 pm

Coffee Holding's second-quarter loss widened, stung by lower coffee prices. President and CEO Andrew Gordon said in a statement that Coffee Holding was more promotional in the period in order to stay competitive at supermarkets. He added that coffee prices may rise during the year's second half, with the company well-positioned to take advantage of the potential opportunity.


Maine GMO Measure Moves Through Senate

June 13, 2013 12:30 pm

A bill that would require Maine food retailers to put special labels on products that contain genetically modified ingredients is moving forward in the Legislature. The Democratic-led state Senate gave initial approval to the bill. It faces further votes in the House and Senate.


Chicken Salad Recalled due to Improper Labeling

June 13, 2013 12:28 pm

Tracy-based Taylor Farms Pacific said Wednesday it's recalling approximately 678 pounds of its 12.25-oz. Signature Cafe BBQ Flavored Ranch Salad with Chicken, because the dressing packaged with it contains egg, a product that's not declared on the label and can be harmful to some people with allergies.


USDA Reduces Corn Crop Estimate

June 13, 2013 12:27 pm | by DAVID PITT,Associated Press

Corn farmers are feeling the impact of a cool, wet spring but are still expected to bring in a record crop this year. The U.S. Department of Agriculture said in its monthly report released Wednesday that farmers are expected to bring in 14 billion bushels of corn this year. That's 135 million bushels less than last month's estimate, reflecting the impact of the cooler spring.


New Hostess Owner Prepares To Re-Start Ga. Plant

June 13, 2013 12:25 pm

The smell of snack cakes could soon return to the Dolly Madison plant in Columbus as Hostess Brands LLC prepares to relaunch production. Hostess Brands LLC spokesman Michael Cramer said workers will be resuming production by July. He said crews are now getting the facility ready to bake goods again, including testing equipment that's been idle since November.



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