survey is the U.S. government for large meat company the first case of collusion bidding.
source: Vision China
sec (Securities and Exchange Commission, hereinafter referred to as SEC) is investigating the chicken pricing operation Tyson food, so before said that the largest meat company is handling poultry prices by conspiracy charges.
Tyson food on Monday confirmed in the regulatory document has received a summons SEC. The company said it is cooperating with the investigation, but also reiterated fighting together by taking the purchase of poultry in civil litigation.
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SEC is the U.S. government for large meat company the first case of collusion bidding. According to the recent months of litigation, including a food service distributors and consumers of the plaintiff accused of chicken, some food, including Tyson large meat company through cross purchase products and excess breeding chickens in Mexico to boost the price of meat output.
addition, Tyson foods are also suspected of manipulating the Georgia Dock chicken index. Georgia Dock has been regarded as the standard of chicken in the United States, many supermarkets will be the index as an important basis for the signing of the contract with the chicken company. From the data point of view, Georgia Dock index (blue) since 2015, and other chicken index has a significant deviation. When all the other indices have fallen from a high of $1.2 in 2014 to about $0.7 per pound, only Georgia Dock remains at $1.1 / lb. Georgia Department of agriculture in December last year to stop the release of the Georgia Dock index.
2007-2016 U.S. chicken index
accused of manipulating the price of chicken, Tyson foods argued that the product based on the Georgia Dock chicken index accounted for only 4% of its sales or even less. In addition to Tyson foods, Pilgrim’s Pride Corp. and Sanderson Farms Inc. and other meat giants also denied the allegations, and plans to fight back.
Tyson foods is the world’s largest supplier of meat products, with nearly 30 sub brands, including chicken, beef, pork and meat products. In 2015, Tyson food sales of more than $40 billion, accounting for about 20% of the U.S. meat market share. In the United States, no matter whether you eat chicken, beef or pork, 1 pounds per pound of meat comes from Yu Taisen.
United States stock analysis website Seeking Alpha finishing data show that Tyson’s camp