Food Roundup: Pilgrim's Pride Execs Resign, General Mills and ConAgra Profits Beat Estimates, NY Gov. Proposes Obesity Tax, and More

Pilgrim’s Pride execs resign — Company President and CEO Clint Rivers resigned on Tuesday along with Chief Operating Officer Robert Wright. The company recently filed for Chapter 11 bankruptcy. [Source: MarketWatch]

General Mills and ConAgra profits drop less than expected — Quarterly profits fell for the rival food companies, but they were still higher for both companies than analysts had predicted. The weak economy has boosted food companies, as customers are buying more groceries instead of eating out. [Source: Reuters]

New York Gov. proposes obesity tax — Governor David Paterson has proposed an 18 percent tax on soda and other sugary drinks. He says the price increase would help fight obesity by discouraging consumption of high-calorie drinks. [Source: AP]

Dairy Farmers of America settles with CFTC — The country’s largest dairy cooperative reached a settlement with the Commodity Futures Trading Commission over speculative trading activities in 2004 that may have violated federal regulations. The DFA agreed to pay $12 million and halt speculative trading but it did not acknowledge any fault or wrongdoing. [Source: Food Business Review]