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.
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.
Darling International Inc., the largest U.S. recycler of meat-production byproducts and restaurant cooking oils, agreed to buy a similar business from Vion Food Group Ltd. of the Netherlands for about 1.6 billion euros ($2.2 billion).
The prospect of selling meat under Hillshire Brands Co.’s labels is putting the maker of Jimmy Dean sausages and Ball Park hot dogs on the menu for producers ranging from Tyson Foods Inc. to Hormel Foods Corp. and JBS SA.
Archer-Daniels-Midland Co.’s failure to win Australian approval to buy GrainCorp Ltd. opens the door for share buybacks, bigger dividends or other acquisitions as the company reviews how to use about $3.5 billion in cash.