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November 1, 2024 Issue

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Great Depression-Era Farm Policy Will Follow If Congress Cannot Revive Farm Bill

The Farm Bill, signed into law by President Donald J. Trump on Dec. 20, 2018, died on Oct. 1, but with Congress on its long election break until November 14, it has not yet been buried. When Congress does return for the lame-duck session, it will have 20 days to either pass a new Farm Bill or dig up the old one with another extension. If it cannot make either of those happen by Jan 1, 2025, Permanent Law will take over as farm policy, just as it was written in the days of Franklin Roosevelt and the Great Depression. That would not be kind to modern nutrition or “food stamp” programs and farm payments. MORE

Source: Constitution Partners

Food Quality, Variety, and Affordability at an All-Time High

In his presentation at the Food Northwest Leadership Summit, Wells Fargo chief economist Michael Swanson highlighted food affordability. Swanson noted that the portion of disposable income Americans spend on food is now 7.8%, down from 12% just 15 years ago. In 1959, Americans spent 21% of their income on food at a time when Swanson noted, “You were buying pot roast and root vegetables.” In 1979, the national average hourly wage could buy about seven pounds of chicken, four pounds of pork, or three pounds of beef. Today an average hourly wage can buy over twelve pounds of chicken, six pounds of pork, or nearly four pounds of beef. Swanson praised food companies for providing great value while elevating food quality, variety, and convenience.

Source: Food NW

US Economy Grew at a Solid 2.8% Pace Last Quarter on Strength of Consumer Spending

The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. MORE

Source: MN Chamber

U.S. Economy Added Just 12,000 Jobs in October, Impacted by Hurricanes, Boeing Strike

Job creation in October slowed to its weakest pace since late 2020 as the impacts of storms in the Southeast and a significant labor impasse dented the employment picture. MORE

Source: MN Chamber

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A New Day Dawns at FDA with the Establishment of the Human Foods Program

The newly created Human Foods Program within the U.S. Food and Drug Administration will initially focus on three areas: the Nutrition Center of Excellence; the Office of Microbiological Food Safety; and the Office of Food Chemical Safety, Dietary Supplements, and Innovation. MORE

Source: CLFP

Food Safety: The FDA (Partially) Reveals a Post-Market Assessment Process

The FDA says it’s developing a “systematic process” for conducting post-market assessments of chemicals in food. This involves ingredients considered generally recognized as safe (GRAS), such as food additives and color additives, as well as food contact substances and naturally occurring contaminants such as lead and arsenic. The partial reveal came at a Sept. 25 public meeting on the subject. Read on for more discussion from that meeting, just don’t expect to see the “systematic process” completely fleshed out. MORE

Source: CLFP

Wisconsin Ends FY24 with $4.6B Surplus, Down from $7B Record but $1B Above Projections

Wisconsin ended its 2024 fiscal year in June with a larger-than-expected $4.6 billion state budget surplus. The surplus is over a billion dollars more than predicted earlier this year, but well below the $7.1 billion left over at the end of the last budget cycle. Gov. Tony Evers and the state Department of Administration released a new Annual Fiscal Report on Tuesday highlighting the surplus and showing the state’s “rainy day” fund hit a record-high of $1.9 billion. MORE

Source: wpr.org

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Consumer Brands Names Melissa Hockstad President & CEO

Melissa Hockstad will become president/CEO of Consumer Brands Assn. on Jan. 6, 2025, taking over for David Chavern, who was named president/CEO of American Council of Life Insurers in September. Hockstad joins Consumer Brands from her role as president/CEO of the American Cleaning Institute. She led ACI since 2017, advancing policies in support of the $60 billion U.S. cleaning product supply chain. MORE

Source: FoodProcessing.com

Food Manufacturers, Retailers Double Down on Private-Label, as Market Continues Growth

Retailers and food manufacturers are banding together to develop more on-trend and innovative private-label products, as the market sheds the perception that they are just cheaper alternatives to national brands, FMI – The Food Industry Association shared in a recent survey of 42 industry executives. MORE

Source: CLFP

Deadline Approaches to File CTA Reports

As discussed in an earlier alert, the Corporate Transparency Act (“CTA”) went into effect January 1, 2024, requiring most legal entities in the United States to file a beneficial ownership information report (“BOI Report”) with the U.S. Financial Crimes Enforcement Network (“FinCEN”). Before January 1, 2025, all covered entities must file a BOI Report through FinCEN’s electronic filing system.

This alert summarizes the CTA rule and highlights some best practices for reporting companies moving forwards. Please contact us for more information. MORE

Source: Michael Best

FTC Announces Changes to Hart-Scott-Rodino (HSR) Filing Rules

On October 10, 2024, the U.S. Federal Trade Commission (“FTC”) adopted new rules (the “Final Rule”) that will significantly increase the scope of information and documentation filing parties must disclose in transactions subject to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”). The Final Rule will be effective 90 days after publication in the Federal Register, which is anticipated to be January 2025. This client alert provides a summary of important rule changes. MORE

Source: Michael Best

Why Ag Is a Tough Climate Problem to Solve

As a climate reporter, I’m all too aware of the greenhouse-gas emissions that come from food production. And yet, I’m not a vegan, and I do enjoy a good cheeseburger (at least on occasion). It’s a real problem, from a climate perspective at least, that burgers taste good, and so do chicken sandwiches and cheese and just about anything that has butter in it. It can be hard to persuade people to change their eating habits, especially since food is tied up in our social lives and our cultures. We could all stand to make some choices that could reduce the emissions associated with the food on our plates. But the longer I write about agriculture and climate, the more I think we’re also going to need to innovate around people’s love for burgers—and fix our food system not just in the kitchen, but on the farm. MORE

Source: Constitution Partners

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Fermented Food Holdings Appoints Its First-Ever CEO

Fermented Food Holdings Inc. (FFH) has named Jorge Azevedo as its chief executive officer (CEO) — its first one since it was founded in 2021. The company had been led by co-presidents Oliver Joost and Marcelo Marim, each of whom will retain that title and take on additional duties. MORE

Source: FoodProcessing.com

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Sauerkraut producer to add 41 jobs in Bear Creek, relocate HQ to Wisconsin

One of the world’s leading producers of sauerkraut has moved its headquarters to Wisconsin and is expanding its manufacturing operations in the state. “A big motivation for us is to get closer to the source and strengthen our relationships with local farms,” said Jorge Azevedo, CEO of Fermented Food Holdings. “We were buying from brokers, buying from farms that were certified organic – but we didn’t know the people growing the product. MORE

Source: WMC

Del Monte Taps Trends to Launch Innovative, Bold Flavors

Del Monte Foods is expanding its product lineup with innovations such as Southern Style Green Beans and Mexican Style Street Corn by working with chefs, analyzing social media trends and restaurant menus and tapping into its produce expertise to introduce bold, spicy and regional flavors popular among younger consumers. MORE

Source: CBA

Purdue DIAL Ventures Agrifood Economy Index Survey

Enclosed is the August 2024 Agrifood Economy Index report, marking the completion of a year-long series of surveys, which has provided valuable insights into current and future sentiment across the agrifood industry. This report, based on your contributions, offers a comprehensive look at segment-specific trends and the evolving economic outlook. MORE

Source: Purdue DIAL Ventures

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Employment Data vs. Privacy Laws: Navigating Compliance in the Age of Emerging Technologies

November 21, 2024, from 12:30 - 1:30 p.m. CT

Join Michael Best for an insightful webinar that explores the critical convergence of employment data and data privacy laws. As organizations increasingly leverage new technologies such as artificial intelligence (AI) in their hiring processes and workplace practices, understanding the legal implications is more essential than ever.

Whether you are an HR professional, legal counsel, or business leader, this webinar will equip you with the knowledge needed to manage the legal landscape effectively while embracing innovative technologies. Webinar attendees may earn one credit of CLE, HRCI, and SHRM continuing education.

More Info & Registration