Ag in the News

01/31/2008

National and International

Feds suspend Calif. meatpacker pending probe of animal abuse
USDA has suspended Westland Meat Co. of Chino, Calif., as a supplier to the agency's National School Lunch Program after the Humane Society of the United States posted on its Web site a video chronicling abuse of cattle at a supplier's slaughterhouse. MORE!

Smithfield workers sentenced for immigration violations
U.S. Attorney George E.B. Holding of the Eastern District of North Carolina said on Tuesday that a federal judge has sentenced three former Smithfield Packing Co. workers to 18 months in prison and three years of supervision for using fraudulent documents to get jobs. Each also was ordered deported after serving the prison term. MORE!

MBA Poultry founder retires By Alicia Karapetian on 1/31/2008 for Meatingplace.com MBA Poultry President and CEO Mark Haskins has retired from the company he founded, Haskins told Meatingplace.com. MORE!

Energy Secretary hints at ethanol tariff change
The Bush administration's 2009 budget may propose a change in the current 54-cent-per-gallon tariff on imported ethanol, Energy Secretary Sam Bodman hinted on Tuesday. MORE!

EU suspends Brazilian beef imports on Jan. 31
The European Union has yet to authorize any Brazilian farms to export beef to the EU under new rules that go into effect Jan. 31. MORE!

Wrap Up

Weaker start to last day of January. Overnight action to to open the final trading day of January saw corn futures mostly around 3 cents lower and soybeans 3 to 6 cents lower in overnight trade. Chicago wheat futures were mixed to mostly lower, with only the March contract showing strength.

Weekly Export Sales today. Traders look for this morning's weekly export sales report for the week ending Jan. 24 to show wheat sales between 400,000 and 600,000 MT; corn sales between 1 million and 1.4 million MT; soybean sales between 600,000 and 800,000 MT; meal sales between 100,000 and 150,000 MT; soyoil sales between 40,000 and 60,000 MT; and cotton sales between 400,000 and 550,000 running bales.

USDA investigating meat plant. USDA has suspended the contract of the California meat company that was the subject of video released by the Humane Society of the United States showing workers at the plant prodding animals with electronic prods and forklifts and also showed downer animals apparently moving into the slaughter mix. USDA Sec. Ed Schafer said the firm's contract as a supplier to U.S. food and feeding programs will be suspended until USDA completes its investigation of the matter. He also criticized the Humane Society of the U.S. for waiting to bring the matter to light -- the video was shot in the fall of 2007.

China storms. The worst snow storms in 50 years in southern China have officials there warning that it could impact fruit and vegetable prices to consumers. Already, expectations are January's consumer price index (CPI) in China will post a 6.5% increase. Officials said the situation could spread and impact overall grain production if the storms/snows move into northern areas.