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Strategies & Market Trends : Commodities - The Coming Bull Market
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To: KatayamaGorobei who wrote (31)6/1/2001 10:43:17 AM
From: craig crawford   of 1643
 
I don't know much about IBP, but we have to be careful though and look for companies that actually produce food, as opposed to companies that process food and buy from producers. If they have to buy on the open markets rising prices could hurt their earnings. Interesting part of the puzzle and worth watching though as this company is showing from it's guidance that demand for meat products is high.

I found this interesting:

In July 1996, Callicrate joined a handful of cattlemen in suing the nation's largest meatpacker, alleging that IBP Inc. (NYSE:IBP - news) illegally cornered the beef market and conspired to fix prices. That suit has languished in the Alabama courts.

Tyson Senior Chairman Don Tyson twice told IBP President Richard Bond in March that he was concerned about the combined companies' ability to meet earnings targets and fulfill debt obligations
post-merger since both Tyson's staple chicken operation and IBP's cattle business were slowing, Bond said.

Those conversations came before the Dakota Dunes, South Dakota-based IBP was forced to restate nearly two years worth of earnings, primarily to reflect accounting irregularities at its DFG unit, which it
acquired in 1998, Bond said.
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