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Fri Aug 22, 2008 at 08:00:00 AM PDT
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Hat tip to OCA for this udderly disgusting story (it's a video).
As corn prices are going up, large scale factory farm operations are looking for cheaper foods to feed cattle. Among new cost cutting measures, mixing reject M&Ms and potato chips with corn feed is no longer uncommon. Of course compared to the dangerous but routine practice of feeding slaughterhouse waste, blood, and manure to feedlot animals, M&Ms and potato chips don't sound that bad. In the meantime, cattle ranchers raising grass-fed beef are struggling to stay in business, as more people are buying the cheap stuff.
I'm sure it's a boon for M&M/Mars and Frito-Lay, but this is a bad deal for the beef-eating population of America. And probably even worse for the cows!
(Details on Cargill's high profits in this time of high commodity prices below. Both corn and soy hit record highs in July. Wheat hit a record high earlier in the year.) |
| Jill Richardson :: Did Your Big Mac Eat M&Ms And Potato Chips? |
Hat tip to Deb Eschmeyer for finding the article below. Cargill gets to screw farmers both coming and going. They sell them "crop inputs" (fertilizer) and then buy commodities and turn them into "value-added products" (also known as food).
Cargill reports record earnings in year of volatile grain markets
By Janie Gabbett on 8/19/2008
Minneapolis-based Cargill said its earnings rose 55 percent this fiscal year compared to a year ago, aided by strong grain and fertilizer prices.
The privately held diverse agricultural giant reported earnings from continuing operations of $744 million in its fiscal 2008 fourth quarter ended May 31, up 18 percent from $628 million in the same period a year ago. A $310 million gain on the sale of discontinued operations brought fourth-quarter net earnings to $1.05 billion.
For the full fiscal year, Cargill earned $3.64 billion from continuing operations, a 55 percent increase from $2.34 billion a year ago. Revenues for the full year rose 36 percent to $120.4 billion. |
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