The consumer backlash against a meat product made from leftovers and treated with chemicals is making a bad situation worse for Cargill Inc. and Tyson Foods Inc. ahead of the beef industry’s peak sales period.
Archer-Daniels-Midland Co. Chief Operating Officer Juan Luciano took on the additional role of president, a title previously held by the current chairman and chief executive officer of the world’s largest corn processor.
Tyson Foods Inc., the second-largest U.S. pork producer, made an unsolicited $6.2 billion offer to buy Hillshire Brands Co., trumping a competing bid from Pilgrim’s Pride Corp. for the maker of Jimmy Dean sausages.
Marubeni Corp.’s proposed $3.6 billion acquisition of U.S. grain merchandiser Gavilon Group LLC underscores the growing interest in agricultural traders as rising food demand puts pressure on global supplies.
Almost every piglet born on Craig Rowles’ hog farms near Carroll, Iowa, died from the virus that swept through his herds in November, causing $462,000 of lost revenue in the first month of the outbreak. By the end of February, he expects to lose 15,000 animals, or 10 percent of annual sales.