SOURCE: The Bedford Report

The Bedford Report

November 11, 2010 12:00 ET

Returning to Pre-Recession Levels Unlikely for These Meat Producers

The Bedford Report Provides Analyst Research on Tyson Foods & Hormel Foods

NEW YORK, NY--(Marketwire - November 11, 2010) - The meat products industry is improving, but is not yet up to levels seen before the economic downturn. The price of pork has been steadily rising this year and boosted earnings. There are significant headwinds going forward, however. While Russia has resumed importing American poultry products, the nation appears to be easing US poultry out in the long term. Large scale US meat producers also face headwinds in their homeland due to the US government's shift towards supporting small scale farming and production. The government released a list of potential rules focused on making the industry a fairer environment in which small companies can better compete with corporate giants who are dominating the industry. The Bedford Report examines the outlook for the meat products industry and provides research reports on Tyson Foods, (NYSE: TSN) and Hormel Foods Corporation (NYSE: HRL). Access to the full company reports can be found at:

Russia had been the largest export market for US poultry before it put a ban in place in January. Then in September Russia agreed to lift its ban following a meeting between Barack Obama and Dmitry Medvedev. The victory for US poultry producers was short lived as Russia plans to cease the importing of frozen chicken in January. According to the head of Russia's consumer protection watchdog, Rospotrebnadzor, freezing "hurts the quality of the meat." The US Department of Agriculture (USDA) seemed dumbfounded, and believes that "Freezing is a long used, internationally accepted method of securing the safety of food products, including poultry and poultry products."

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Russia has also issued a partial ban on meat and pork imports from US and European processors while the government invests $800 million to open a beef farm to boost domestic production. America pork exports to Russia fell by almost two-thirds this year due to the bans.

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