Walmart Milk Processing in Georgia and Four Largest Meatpackers Sued
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Walmart has announced plans to open a milk processing facility in Valdosta.
The Georgia Farm Bureau reports, Walmart plans to break ground late this year on the $350 million facility, which will employ approximately 400 people.
The company says the facility would use locally sourced ingredients and will provide gallon, half-gallon, whole, 2%, 1%, skim and 1% chocolate milk to 750 Walmart stores and Sam’s Club locations across the Southeast.
www.gfb.org/news/ag-news/post/walmart-to-establish-dairy-processing-plant-in-valdosta
**The four largest meatpackers were hit by a new price-fixing lawsuit from a group of small food distributors.
File October 9 in U.S. District Court, the plaintiffs say the price-fixing dates back to at least 2015, and includes Cargill, JBS, Tyson, and National Beef Packing Company.
They say the Big Four exploited their market power by conspiring to limit the supply of beef sold to U.S. wholesale purchasers, resulting in higher prices.
**Farm lending activity slowed further in the third quarter alongside a drop in operating loan volumes.
The number of non-real estate farm loans was flat compared to a year ago, while the average SIZE shrank almost 20%, the amount of operating loans over $1 million most notably.
The Kansas City Fed says lending has softened alongside significant increases in farm loan interest rates, putting considerable upward pressure on financing costs.
