Tyson to Pay Washington in Price Fixing Suit and National Gas Prices Down
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Washington state Attorney General Bob Ferguson announced that Tyson Foods, the largest chicken producer in the nation, will pay $10.5 million over price-fixing on chicken products.
The announcement is the third and largest resolution in lawsuits against 19 broiler chicken producers.
The claims against the remaining 16 companies continue.
The conspiracy harmed an estimated 90% of Washington state residents, or approximately seven million individuals.
Alaska and New Mexico, have similar antitrust cases against national chicken producers.
**The nation's average gas price declined for the second straight week, falling 9.3 cents from a week ago to $3.77 per gallon.
The national average is up 10.2 cents from a month ago and 41.2 cents per gallon higher than a year ago.
The national average diesel price increased 4.0 cents in the last week and stands at $5.30 per gallon.
**National Milk Producers Federation leadership unanimously endorsed a proposal to modernize the Federal Milk Marketing Order milk-pricing system.
The plan includes returns to the "higher of" Class I mover, including barrel cheese in the protein component price formula.
It extends the current 30-day reporting limit to 45 days on forward-priced sales of Nonfat Dry Milk and dry whey to capture more export sales in the USDA product price reporting.
