Food Business News - August 30, 2011 - (Page 1) August 30, 2011 FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY www.foodbusinessnews.net Hormel Foods earnings up 15% in quarter AUSTIN, MINN. — With the international business and the Grocery Products segment contributing to results, Hormel Foods Corp. recorded a 15% increase in earnings during the third quarter. For the quarter ended July 31, the company had earnings of $98,481,000, equal to 37c per share on the common stock, which compared with income of $85,370,000, or 32c per share, during the same quarter of the previous year. Sales for the quarter were $1,910,592,000, up 10% from $1,730,451,000. “We are pleased to report improved earnings per share and sales for the quarter, which were up 13% and 10%, respectively,” said Jeffrey M. Ettinger, chairman of the Continued on Page 12 Accountability at the heart of new food safety law Story on Page 16 Natural, low-calorie refreshment s consumers examine the number of calories in beverages, it may be expected they will gravitate toward choices with fewer calories. In fact, low-calorie beverages are a top beverage trend prediction for 2011, according to FoodChannel.com. “It was impossible to ignore how food companies are leading the charge toward no or low-calorie beverages,” said Kay Logsdon, editor-in-chief of FoodChannel.com. “What makes it a trend is the consumer response. So, now it’s obviously time to consider the calorie cost. People are paying attention Continued on Page 30 A Soaring egg prices peaking, egg products still rising xtremely hot weather across much of the country in July, including major egg production areas of the Midwest, East and Southeast, affected the number and size of eggs laid and resulted in dramatic price increases for eggs and egg products. Egg prices appear to be peaking with the advent of cooler weather, but egg product E prices still are catching up. In addition, the East coast was dealing with Hurricane Irene and producers faced soaring feed costs. The hot weather caused multiple problems for egg processors. Not only did hens lay fewer eggs, which affected both breaking and retail supplies, but the eggs also were smaller, resulting in less total liquid and less product to freeze or dry. “Heat impacts separation,” said Robert Kellert of Bender Goodman Co., Inc., a Jersey City, N.J.-based egg product, dairy product and shortening supplier. He also noted costs were the same for breaking large or small eggs, but small eggs yielded less product. In addition, the lack of larger eggs available to retail channels resulted in increased sales of larger breaking eggs into the graded or retail market, further Continued on Page 24 http://www.foodbusinessnews.net http://www.FoodChannel.com http://www.FoodChannel.com Table of Contents for the Digital Edition of Food Business News - August 30, 2011 Food Business News - August 30, 2011 Contents Web Contents Editorial - Food itself plays major role in demand for food Private equity group acquires Minnesota-based candy company F.D.A. seeks more comments on phytosterols MegaMex acquires Fresherized Foods Nestle updates nutrition labeling system OpenGate Capital to acquire Dean Foods facility Walgreens launches Nice! store brand Hormel Foods earnings up 15% in quarter With charges, Heinz income down 6% in quarter Consumers dissatisfi ed with frozen meal portions Kraft cutting coffee prices 6% California Pizza hires G.J. Hart as president, c.e.o. Accountability at the heart of new food safety law General Mills, Batter Blaster win G.M.A. innovation awards Rowland acquisition boosts Smucker earnings Coca-Cola, partners to invest $4 billion in China July milk production up 0.8% Washington - ' Fit for Life' bill targets childhood obesity Soaring egg prices, egg products still rising Health and Wellness - From digestive health to weight management Ingredient Innovations - Tropical assistance New Product Trends - Natural, low-calorie refreshment New Food Products INGREDIENT MARKET TRENDS - Statistics Canada forecasts record canola crop Ingredient Markets Supplier Innovations and News Classifieds Marketplace Ad Index Food Business in the News Feature - Hormel Foods earnings up 15% in quarter Feature - Natural, low-calorie refreshment Feature - Soaring egg prices peaking, egg products still rising Food Business News - August 30, 2011 http://digital.foodbusinessnews.net/sosland/fbn/2019_02_19 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