Kellogg, for a lot of years, was behaving exactly as Kraft is behaving now.

When he started as CEO I thought Kellogg was a very insular, not-very-worldly-wise type of company, ... It's now about as international and as sophisticated as they get.

The best time to buy a poultry company is when it's been beaten up.

Kellogg continues to be the best managed of the large-cap packaged foods companies and remains committed to making the investments today that assure growth in the future. It consistently outspends and out-innovates its competition.

MTV is chock full of ads for spirits. Spirits are more of a hip, for lack of a better term, product than beer or wine.

There is a lack of innovation, lack of reinvestment, and lack of news in the category. We're not recommending any large-cap food names.

I have 'buy' ratings on Smithfield and Hormel. I don't follow Tyson, but I could understand why people might be bullish there, ... There's further to go for these companies.