Google

Author Topic: European Hog News:  (Read 90417 times)

0 Members and 1 Guest are viewing this topic.

Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #240 on: May 05, 2014, 05:29:59 AM »

France Bans Imports of Pigs, Semen from Four Countries Citing PED Risk
02 May 2014

FRANCE - France has announced a ban on imports of live pigs and other pig products from the US, Canada, Mexico and Japan, in order to guard against Porcine Epidemic Diarrhoea (PED).

The disease has already killed around seven million pigs in the United States in the last year, according to Le Monde, while pork prices are at a record high in an already fragile sector.

Jean-Luc Angot, Deputy Director General of Directorate General of Food (EB) and chief veterinarian explained that the high losses of pigs in those countries are grounds for concern. If PED were to hit an area with a high density of pigs, such as Brittany, the effects on the industry would be dramatic.

The decision is scheduled to be announced officially on Saturday, 3 May, confirming the ban on imports of live pigs and boar semen - products that are imported by France from these countries - as well as feed ingredients based on pig by-products.

PED mainly affects piglets up to 10 days of age, continues Le Monde, and it is spread by direct contact as well as in feed and feed ingredients made from the blood of infected animals.

The report continues that, while China and Japan have imposed restrictions on imports of US pig meat, France is the first country in the European Union to do so.

According to Mr Angot, France proposed the adoption of an EU-wide embargo last month but, despite support from leading pig-producing countries such as the Netherlands, Denmark and Germany, the European Commission rejected the initiative.

Mr Angot expressed his hope that France's national action will be extended across the EU.

In meetings earlier this week, pig industry professionals were warned to be on the alert for signs of the virus and to strengthen biosecurity measures to prevent the entry of the PED virus.


Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #241 on: May 11, 2014, 11:59:45 PM »

Food for Thought for Pig Producers
09 May 2014
British Pig Executive
UK - The future of pig feeding and data recording will be showcased in a packed programme of speakers from across the globe at the annual BPEX Innovation Conference, on 24 June 2014.

The free one-day event is a must for those who want to know where the pig sector will be by 2020. It will provide information, ideas and insights into new technology that English pig businesses need to help secure a competitive and profitable future.

BPEX technical communications manager Miriam Drewett, who is organising the event, said: "This year’s conference themes, feeding and performance data, are two of the biggest influences on physical pig performance and cost efficiency. Through this event, BPEX is highlighting exciting and innovative solutions to meet the needs of modern, competitive businesses, looking locally and globally as well as learning from other industries.

"Science, management techniques and technologies are emerging all the time and it’s vital that we investigate them and adopt the best and most relevant available to make sure English pig businesses can grow and compete in the global marketplace."

New ingredients, feed efficiency, feed blending technology and the results of cutting-edge Canadian research into ‘precision feeding’ all feature in the morning session, chaired by nutritionist Mick Hazzledine.

The second session on recording and data interpretation, chaired by Rattlerow’s Simon Guise, will include pig and poultry producers showing how they use data to drive their businesses, what’s on their ‘dashboard’ and how to make sense of data to make meaningful management decisions.

The conference is at Stoneleigh Park in Warwickshire from 09:45 to 17:00, with lunch and refreshments provided. Online booking is available and there are opportunities for relevant allied industry companies to exhibit at the conference.


Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #242 on: July 21, 2014, 12:30:24 AM »

Spain Hog Market
17 July 2014
Genesus - The first power in genetics

SPAIN - As every year at this time, Spain becomes a pork price front-runner in Europe, writes Mercedes Vega.

Even though, the price of the last week of June was 1,493 euro ($2,030 US) -it went up 0,8 cents of euro ($1.08 US)- is €4,3 cents ($0.58 US) lower than a year ago.

Dragging a lower price accumulated of two per cent from the first half of the year as a consequence of the trade banning that Russia has imposed to the UE. The restrictions being executed to pigs from the Union are contrary to the rules established by the World Trade Organization (WTO), and in this sense they have asked to the WTO to resolve the legality of this unilateral enforced regulation. Russia is demanding a new health certificate. With this could accept animals of 14 member states like Spain, Belgium, the Netherlands and Portugal, among others and leaving out countries like France, Italy and Germany.

The dependency of Denmark and Germany to their Russian exports makes Danish pigs saturating the European market with cheap pork. On the other hand Germany cannot make up their exports to third party countries. The situation of Spain in this sense is totally opposite; it has a better market diversification exporting to countries like Japan, Korea and China, in addition to other European countries.

Then again, in the last years the abattoirs capacity to slaughter animals has done nothing but expand. So, the increasing amount of market hogs in the first quarter of 2014 compared to the same period in 2013, it has been 2.5 per cent more hogs (over 350,000 more pigs than a year ago) plus a 3.5 per cent increase in meat production (40,000 tons more of meat). This has been a new historic record for January-April 2014 period.

Due to a lower cost of production this year, the average of slaughter weights are well above compared with previous years. The industry is getting good margins. It seems like 2014 will be a great year for pig producers, if not health issues arise.

On the pork consumption side, we had a little decline over the first quarter 2014. Fresh meat dropped 1.3 per cent, while processed meat plunged about 4.7 per cent. The good news is that fresh pig meat has higher price than a year ago, endorsing pretty much the same invoice this year. Unfortunately it is not the same case in of processed meat consumption, taking off a turnover of 3.2 per cent.



Genesus Global Market Report
Prices for the week of 7 July 2014


Country

Domestic price
(own currency)

US dollars
(Liveweight a lb)

USA (Iowa-Minnesota) 132.18 USD/lb carcass 97.81¢
Canada (Ontario) 279.96 CAD/kg carcass 94.39¢
Mexico (DF) 31.73 MXN/kg liveweight $1.11
Brazil (South Region) 3.64 BRL/kg liveweight 74.46¢
Russia 120 RUB/kg liveweight $1.58
China 13.38 RMB/kg liveweight 97.86¢
Spain 1.47 EUR/kg liveweight 90.28¢
Viet Nam 58,000 VND/kg liveweight $1.24
South Korea 5,064 KRW/kg liveweight $2.23

Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #243 on: August 02, 2014, 11:36:47 PM »

Minister Welcomes Improved Export Conditions for Pork to Singapore
31 July 2014

UK - Northern Ireland's Agriculture Minister, Michelle O’Neill, has welcomed improved export conditions for pork to Singapore.

Ms O'Neill said: "Today’s announcement is a further boost for our pork exports following agreement by the Singapore authorities to accept meat from all the animals reared and processed in the north.

"This follows my recent announcement of a similar relaxation for beef and pork exports to South Africa."

The Minister continued: "This agreement is testament to the north’s high quality production standards. We have been able to capitalise on the successful inward inspection by Singaporean officials in July 2013.

"They were highly impressed with our beef production standards and as a result were willing to renegotiate the already agreed pork certificate in light of this."

Pork exports had been limited by a clause of origin which only permitted the export of meat sourced from animals born in the north.

The renegotiations have opened this market to meat from animals sourced from across the island of Ireland including those which were born in the south but reared by farmers in the north.

The Minister concluded: "This good news is of benefit to our farmers and processors alike and I hope in the coming months to be able to announce even more new market opportunities.

"With increasing export opportunities a key tenet of the Going for Growth strategy I am committed to using every lever available to me to assist our industry in achieving their ambitious growth targets."

Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #244 on: August 10, 2014, 05:42:33 AM »

Save on Feed Without Reducing Pig Growth Rate
08 August 2014
British Pig Executive
UK - Precision feeding pigs can reduce the amount of lysine needed by 25 per cent and reduce feed costs by more than eight per cent, without affecting growth.

These are the findings of Canadian research scientist Dr Candido Pomar, of Agriculture and Agri-Food Canada, who has trialled precision feeding systems in growing and finishing pigs and shared the details at the BPEX Innovation Conference.

Dr Pomar said: “Currently, most producers feed pigs in groups with diets that are designed to satisfy the requirements of the most demanding pigs, therefore most of the pigs receive more nutrients than they really need to express their growth potential.

“During our trials, we fed pigs individually with diets tailored daily to individual needs, which enabled us to achieve similar feed intake and growth results as in conventional feeding systems and, at the same time, reduce lysine intake by 25 per cent.”

Dr Pomar said: “The feeder is quite simple and robust and the software automatically calculates the composition of feed needed each morning for each pig during the coming day.

“Importantly, all the information is readily available to producers on the computer. They can see all the pig data from the house or the office and quickly identify any reductions in growth or feed intake. Access to real-time farm data such as feed consumption and animal growth is an invaluable tool for pig management.

“I believe that, 10 years from now, the majority of pig producers will be using precision feeding. The economic benefits are so high that we have to do it. We are probably two to three years away from commercialisation of the technology.”

Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #245 on: September 01, 2014, 12:41:28 AM »

Spain and Portugal Hog Markets
29 August 2014
Genesus - The first power in genetics

SPAIN and PORTUGAL - It has not been a surprise that hog prices went down in August. The good news is that this decline is still less than what would normally be expected at this time of year.

Spain was leader in prices in July; it was higher than Germany by approximately 7 cents. Spain ended the month at € 1.438 liveweight, while Germany closed at € 1.27.

Consequently, European producers have provided raw material to the Spanish meat industry in significant amounts causing a greater decline in prices. In August the Germany price (1.27 €) is 9 per cent below than the same period a year ago, while Spain (€ 1,433) is 4 per cent lower. This probably will cause a price balance and it could spur on some competition.

It should be also noticed that there are more pigs in the market because it has not been a very hot summer (the pigs are growing faster), and on the other hand, the farms are at their full capacity. Also as a consequence of the lower feed cost, the largest herd inventory after the animal welfare regulations enforcement and the genetic improvement in production. Spain is estimated to produce 60 per cent ??more than its domestic consumption.

It is of importance to highlight that in 2013 pork production was the first Spanish meat activity (3,420,000 tons. ANICE estimated value), representing nearly 83 per cent of red meat produced in the country. This level of production represents 3.4 per cent of world production, making Spain the fourth largest pork producer in the world, after China which produces 50 per cent, USA 10 per cent and Germany 5.3 per cent; Spain is also ahead of countries like Brazil with 3.1 per cent, Russia and Vietnam with 2 per cent each, and Canada with 1.7 per cent.

For this reason the swings of border closures, diseases such as PED, etc., have a substantial affect on Spain’s swine industry because of the importance acquired in international markets as an export country in recent years.

European hogs have been banned from entry into the Russian market since last February, making this new scenario that Russia has created -with the embargo for a year to Europe, USA and Canada- with limited exports and forcing the EU since then to seek other markets.

However, this fact theoretically, it has not affected the Spanish hog industry because it has been suffering the embargo since May 2013. This is why, it has sought to diversify its markets in other areas, not affecting it in this case, with this new trade prohibition.

Spain has been able to export to third countries more than the rest of the EU because of the experience of prior years; but the price differential compared to the rest of Europe was not as great as it used to be now. On the other hand, you have to keep in mind that chicken and beef exports to Russia have not played a great roll in this mess, but it could make more noise now making the situation even worse in terms of a most important price war.

This is not the case in Portugal, which is directly affected by the EU dynamics and subsequently with the embargo imposed by the Russian authorities as well.

The Portuguese market is also in a difficult situation that inhibits their growth. Due to the associated feed situation, environment, animal welfare and food safety strict regulations, the reduction in consumption and low confidence in the economy. Consequently the hog population has declined in recent years; the herd is around 220,000 in May this year.



Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #246 on: October 05, 2014, 09:09:41 AM »
European Livestock Sector Collaborates on Sustainable Development03 October 2014DENMARK - Research in technology and biology provides new development opportunities for European livestock farming, delegates to the recent European Association of Animal Production (EAAP) conference heard in Copenhagen.

Around 950 scientists and consultants from 60 countries gathered for the EAAP 2014 European livestock congress in Copenhagen from 25 to 29 August.

During the four days of the congress, as many as 56 meetings and 750 lectures were held where a wide range of subject areas such as feeding, genetics, animal welfare, physiology, health and management were discussed.

DCA Aarhus University

Research director John E. Hermansen from Aarhus University was one of the principal organisers of the congress in Copenhagen.
(Photo: Claus Bo Andreasen)The congress officially opened on Tuesday morning, where the Rector of Aarhus University, Brian Bech Nielsen welcomed the many scientists. In his opening speech, he highlighted the important contribution that livestock farming makes to the Danish economy and also some of the challenges associated with a large animal production.

The Director of the Danish Knowledge Centre for Agriculture, Jan Mousing, highlighted in his opening speech the influence that research has had on the development of the livestock sector. He furthermore stressed that both research and practical livestock farming are facing enormous challenges in meeting the growing demand for animal products in a sustainable way.

One of the challenges is by 2050 when the global population is estimated to have reached nine billion, the area being farmed will have shrunk significantly.

Global Issues Discussed
"In other words, there is a need to intensify production in a sustainable manner," said research director John E. Hermansen from Aarhus University, who was one of the principal organisers of the congress in Copenhagen.

One of the major themes of the congress is therefore the discussion of the role of livestock in food production in the future. The global demand for animal-based food products is increasing rapidly and this poses challenges in relation to impact on nature, the environment and climate.

Dr Hermansen added: "Research is facing a huge task in the provision of knowledge that can help ensure that increased livestock production does not add to the pollution pressure on the environment."

Livestock production has in fact already made progress in this area. A talk given by senior researcher Troels Kristensen from the Department of Agrobiology at Aarhus University disclosed, for example, that a Danish dairy cow now produces about three times as much milk as its predecessor in the 1950s – with a significantly lower feed consumption per kilo milk. Resource use efficiency has, in other words, increased significantly.

Never before, in the last hundred years, have there been so few cows in Danish farming. And never has milk production been higher.

Another possibility is to explore the possibilities of adapting livestock production to the local, natural conditions. For example, some soils are better suited to the production of animal fodder based on perennial crops than to the growing of cereals.

"More knowledge in such areas could increase the sustainability of livestock production," according to Dr Hermansen.

New Technology Improves Animal Welfare
As in other scientific congresses, researchers who participate in the EAAP Congress have the opportunity to present and discuss their research with colleagues from other countries.

The special feature of EAAP is that colleagues working in widely differing research disciplines have the opportunity to meet and advisors and companies are also welcome to attend meetings and present their own studies; it is often in the critical touch zone between research disciplines that new thinking emerges.

An example of this is "Precision livestock farming", which was a dominant theme at the congress in Copenhagen. Precision livestock farming includes the technological monitoring of farm animals, said Dr Hermansen.

This is becoming increasingly topical since farms and livestock herds are increasing in size. With a herd of several hundred cattle it will, for example, be extremely difficult for farmers to keep track of each individual animal.

Using technology that monitors the health of the cow, the farmer and his veterinarian will be notified of any problems. There are technologies that can continuously monitor the cow's temperature, how much she eats, how much she moves, whether she is coming into heat or whether she has become pregnant. Similar technology is available for alerting the farmer if a cow is going down with mastitis or a metabolic disorder.

Dr Hermansen explained: "When fully developed, the technology can provide early and accurate notifications if animals have problems. This means that the farmer and the veterinarian can intervene with preventive treatment, which can save the animals any unnecessary suffering and reduce the consumption of medicine."

Monitoring technologies are already widely used, such as in connection with milking robots, but now a host of new technologies are emerging that can be used in other production systems and with other livestock species.

Advancements in technology – and not least in their use – require collaboration between different research disciplines and also practical inputs. That is precisely what the EAAP Congress promotes.


Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #247 on: October 13, 2014, 01:45:40 AM »
Go to schweine.net

EU - The situation has not changed on the European pig slaughter market over the course of this week. The downswing continues.

The price decreases range from minus 1 cent in Ireland to a corrected minus 7.2 cents in Spain.

Beyond national frontiers, this is attributed to unsatisfying meat business at large quantities of live pigs on offer.

Exports to third countries fall short of expectations as a result of the Russian ban on imports of European pork. On top of that, much pressure is again and again exerted from Germany against which other countries cannot shield themselves.

In view of the considerable price decreases that occurred over the past weeks, there is more and more demand from the EU member countries for political support.

Austria, France, Belgium and Poland ask for practical support related to relief of the market. Yet, so far they have not gained ear in Brussels.

No reason for support is seen at this moment in time. According to Broederij, Nikolai Fyodorov, the Russian Minister of Agriculture, emphasised as recently as last Friday that he is not willing to attenuate the boycott list unless the West alters its attitude towards Russia.

As reports the Dutch professional magazine, the Russian government rejected some Russian meat processors’ demand for diminishing the ban on imports at the end of September. So, the Russian market is not expected to be opened again soon.

Trend For The German Market:
There is light at the end of the tunnel. The missing day of slaughter on 3 October, the Day of German Unity, is past now.

Reducing the backlog of quantities on offer is running at full speed. The market participants are optimistic that the market runs free over the next few days.

Positive effects are expected to be the result of the beginning of the month on the one hand with its first demand and, on the other hand, of the low Euro exchange rate, as to the European competitiveness in exports.


Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #248 on: October 27, 2014, 05:20:31 AM »
UK - A herd of rare breed pigs is helping to create the perfect habitat for endangered species in Dorset.

For the first time, the Royal Society for the Protection of Birds (RSPB) has recruited six Mangalitsa pigs to restore its Arne nature reserve to natural heathland through grazing.

It is hoped the site will then become an ideal home for species such as the Dartford warbler, nightjar, smooth snake, sand lizard and stonechats.

"It is an experimental project that we hope will produce fantastic results for nature at our Arne reserve," said Mark Singleton, RSPB Dorset reserves operations manager.

Last year, the RSPB's State of Nature report found that 60 per cent of UK species have declined over the past five decades. Mr Singleton said the rare breed pig project is "one of many that the RSPB is carrying out to tackle this problem and try to reverse these declines."



Usually, diggers would be used to remove the pine needles but pigs are more environmentally friendly.
In its current state, the land at Arne is covered in pine needles and bracken, up to six inches deep in places.

Ordinarily the charity says it would use diggers and other machines to carry out the work, but the pigs are a more environmentally friendly option.

Mangalitsas are the only pig species in England to grow distinctive hairy fleeces similar to sheep. As they get stuck into the six-month project, the rare breed pigs will be joined by six Berkshire pigs.

The pigs are not alone in helping the charity with its conservation projects. Konik ponies, for example, help to manage habitats and create a mosaic of different vegetation types at RSPB Minsmere.

"There are many benefits to conservation grazing," said David Burton, senior advisor at Natural England. "Grazing animals helped shape many of our semi-natural habitats, which developed rich and diverse wildlife communities."


Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #249 on: November 03, 2014, 04:16:45 AM »
Oct.30/2014

BELGIUM - The country exported less pig meat in terms of volume and value for the period January-June this year than in the corresponding period of 2013.

Belgium is a net exporter of pig meat, according to the German meat association, VDF. Around 60 per cent of production is exported.

For the first six months of 2014, the volume of fresh and frozen pig meat leaving the country was down by 3,600 tonnes or one per cent at 347,400 tonnes.

The bulk of this volume was destined for other EU countries and particularly Germany, which took around 40 per cent of the total or 139,500 tonnes.  This represents a reduction of 2.6 per cent from the same period of last year.

Second destination for Belgian pig meat is Poland, accounting for about 23 per cent of the exported volume. For the first six months of this year, that amounted to 81,700 tonnes, almost 19 per cent more than in the same period of 2013.

At 23,400 and 16,300 tonnes, respectively, Belgian pig meat exports to the Netherlands and Italy were lower for the first half-year of 2014 than the year before. The UK took 13,300 tonnes, almost the same as in 2013.

The value of Belgium's pig meat exports over this period

Mustang Sally Farm

  • Hero Member
  • *****
  • Posts: 2022
    • View Profile
Re: European Hog News:
« Reply #250 on: November 17, 2014, 07:24:10 AM »
13 November 2014



Jim Long is President &
CEO of Genesus Genetics.
GERMANY - We're heading to Euro Tier, the largest exhibition of livestock and poultry, which is held every two years in Hanover, Germany, writes Jim Long, President - General Director Genesus Inc.

We have visited this event three times before, but this will be the first time exhibiting. The Genesus stand will be located in the exhibition hall 9, place C21. We expect there will be a lot of breeders from Europe and Asia, and quite a bit from North America. Next week, we will share their impressions of EuroTier and the situation on the world pork markets.

Corn
In the US there is an unhurried harvest corn. It seems that farmers do not sell too much corn, the price of which has reached the lower limit. DTN National Corn Index averaged $ 3.29 / bushel ($ 129.52 a ton) - not much higher than the five-year low. In May this year, the national index DTN was $ 4.82 / bushel ($ 189.75 a ton).

Without doubt, the cost of production of pigs in the United States decreased by at least $ 30 per head. We believe the huge crop will further reduce the cash price for corn.

Pigs
Apparently, the cash price of pigs has overcome the lower limit. We do not expect a significant reduction in the coming weeks, on the contrary, the general upward movement - in the range of 85-87 cents per pound of lean pork ($ 1.87 - 1.92 / kg) at the moment.

Collectors earn - price carcasses in slaughter weight is in the range of 95 cents per pound ($ 2.09 kg) and it will serve as a good incentive for highly intensive filling slaughterhouses. Last week, the US has sold 2.232 million hogs, the biggest weekly sales for 2014. Nevertheless, it is at 50,000 less than in the same week a year ago. The average weight of the implementation is 216 pounds (98.18 kg), a year ago - 211 pounds (95.90 kg). The difference in 5 pounds (2.27 kg) when compared with last year - this is a small discrepancy, which we could see in a few months. We believe that in the next few months, the gap will continue to shrink.

Piglets
In the US, the spot price on early weaning piglets ($ 67.99) and forty pounds (~ 18 kg) pigs rearing ($ 81.33) remains high. Reflection of a very strong demand on the proposal.

PED virus
In the first week of November in the US, it was reported 65 new outbreaks of epizootic diarrhea virus of swine virus (PED). About as much as a year ago. It's hard to say what will happen in the past year the number fell to January, when recorded over 200 cases per week. Epizootic diarrhea virus of swine (PED) - absolutely unpredictable moment, if we talk about the scenario of supply in 2015. We believe, as compared to the previous year level of PED will be lower in the coming months, mortality decreased by approximately 50% or approximately 3 - 4 million pigs.

Smithfield Foods
Buying a Chinese company Smithfield Foods WH Group looks very smart deal after Smithfield, a subsidiary of WH, gave a report on the third quarter of this year.

There was a saying: 'Do you want to learn how things work in the US automotive industry, see how things are going in General Motors'. The same can be said of Smithfield, but for pig industry! Net income Smithfield, the largest producer of pigs, meat processors and custody, in the third quarter was $ 155 million. Operating profit Smithfield pork segment this quarter, September 28, was $ 139 million, a year ago it was $ 48.5 million. Operating income from Smithfield pig in the past nine months were $ 278.1 million, a year ago - $ 18.7 million. Given that a $ 18.7 million does not include any overhead, quite possibly, in the nine months of last year, the department of production pigs lose money. In the last quarter of Smithfield reports an operating profit of $ 42 per head. Because virus PED sale based on the head reduced by 14%, but at the same time, the weight of the carcasses was 4% higher. In the last quarter of Smithfield reported market price of $ 85 per hundred pounds of live weight increase of 17% compared to last year. In the coming months will be an explosion in China pork prices due to liquidation of 5 million sows. We think, Smithfield with his many enterprises in the US, has already been approved for pork exports to China and the Chinese supply chain in the country with the mediation of the Chinese owners will benefit from the possibility of a major export. When this happens, it will reinforce the position of all breeders USA. Any pork for export, support prices for pigs. 2015 will be the year when we find out how much you need pork to China.


 

< >

Privacy Policy