As the closing arguments wrap up in Oklahoma’s lawsuit against 11 poultry companies, state attorney Robert Nance asked U.S. District Judge Gregory Frizzell to place a moratorium on dumping poultry litter in the Illinois River Watershed. Nance argued that the ban could be temporary until the court established sufficient controls, but the poultry companies in the suit argued that the moratorium would be unnecessary and would cause economic hardship on the poultry and cattle industries, reports the Tulsa World.

Mark Hopson, an attorney for Tyson Foods Inc., stated that an injunction could be cost prohibitive and noted that the company growers in the area are complying with state laws governing the use of poultry litter as a fertilizer. He suggested that Oklahoma change its standards if it decided the existing ones were too lenient, as opposed to an injunction.

At the conclusion of the arguments, Frizzell thanked the attorneys on bots sides for their work on the case, but he did not indicate when ht would issue a ruling. For more about the conclusion of the artuments, go to http://www.tulsaworld.com/news/article.aspx?subjectid=11&articleid=20100219_11_A9_Oklaho61998&archive=yes.

Source: Tulsa World

Hormel Q1 results soar past estimates

Hormel Foods reported a first-quarter profit of $111.2 million, up 37 percent from the previous year. Sales for the quarter rose 2.3 percent to $1.73 billion, well above analyst expectations of $1.67 billion, reports the Blogging Stocks blog.

The results caused the company to raise its earnings forecast for the rest of fiscal 2010, expecting a profit of $2.68 to $2.78 a share. Hormel’s previous forecast was for $2.63 to $2.73 a share. The company did warn that it expected hog costs to rise over the course of the year and that foodservice sales continued to be soft. Stocks still rose to a year-long high of $42.65 on Thursday.

Source: www.bloggingstocks.com

NMA, NGA, co-locate shows in 2011

National Meat Association (NMA) and National Grocers Association (NGA) announced they will co-locate the NMA MEATXPO Suppliers’ Exposition and Annual Convention with the NGA Annual Convention and Supermarket Synergy Showcase in Las Vegas, Nev., next February 13-16, 2011 at the Mirage Resort and Casino.

“We are excited for the opportunity to co-locate with the National Grocers Association in February 2011. National Meat Association strives to provide its members opportunities to open doors and exercise options to make connections important to the success and continuance of their businesses. In today’s upswing of the economy we look forward to effective working relationships with affiliate organizations and we are pleased to begin this venture with the outstanding group at NGA,” NMA CEO Barry Carpenter said.

By co-locating, NGA and NMA will provide their members opportunities for networking, cost saving and idea exchange – a synergy that will ultimately benefit consumers.

NGA Executive Vice President Frank DiPasquale added that “NGA continues to collaboratively work with other trade associations and is pleased with the new relationship with NMA. We look forward to a bigger, better and more value added convention in 2011. We feel that this move will enhance the networking, educational and professional services provided to our respective membership and trading business partners. In an increasingly competitive marketplace, the ability to adapt and grow to meet our members’ needs is crucial and the meat department continues to be an important point differentiation for many of our members.”

Source: NMA

Canadian processor Sofina Foods acquires Lilydale Inc.

Meat processor Lilydale Inc., headquartered in Edmonton, Alberta, has agrees to be acquired by Toronto-based Sofina Foods for $130 (Canadian), the Canadian Press reports.

"This partnership works on so many levels, particularly with Lilydale's geographic coverage in the west and their strong brand presence in the marketplace," said Sofina president Michael Latifi in a release. "Together we are very well positioned to deliver accelerated growth to our retail and food service customers throughout Canada."

"In our view, the consideration to be paid and the terms of the arrangement are fair and appropriate and should be seen as very attractive to all Lilydale stakeholders, from its shareholders through to its customers," said Lilydale chairman Don Sundgaard.

Sofina produces beef, pork and chicken products for the retail and foodservice industry inder several brands, including Fletcher’s, Cuddy, Quality Meats and Vienna. Lilydale owns the Tailgate, Daystarters and Country Fair brands of fresh and frozen meat products. The combined company would have annual sales of more than $800 million and 3,300 employees.

Source: Canadian Press