Ag in the News

02/06/2008

National and International

Processors will feel economic pinch later, private label meats could benefit
As consumers shift to cheaper cuts of meat to cope with the recession that is either on its way or already here, the impact on meat processors will be delayed, and those who provide private label meat products could be in a better position than others. MORE!

Three men face charges in theft of food from Tyson warehouse
Three men, including a Tyson Foods employee, are accused of conspiring to steal pallets of food products from the Tyson warehouse in Olathe, Kan., and transport them by truck to Arkansas and elsewhere, according to a news release from the U.S. Attorney's Office in Wichita, Kan. MORE!

Farm bill conference committee members named
The senators who will serve on the conference committee for the farm bill have been named — the latest step in the bill's long, slow journey through Congress. MORE!

USPOULTRY honors poultry scientist
Wallace Morgan was recently awarded the U.S. Poultry & Egg Association's Lamplighter Award. MORE!

Wrap Up

More overnight gains. Wheat futures clearly built on the momentum registered Tuesday and worked higher again overnight. Chicago wheat futures were 9 to 30 cents higher overnight on strong followthrough buying. Soybean futures were 7 to 15 cents higher. Corn was 2 to 4 cents higher.

Higher wheat limits in Mpls. The Minneapolis Grain Exchange announced starting Feb. 12 the daily trading limit will be raised to 40 cents from the current 30 cent limit. The Chicago Board of Trade and Kansas City Board of Trade are considering similar moves, but haven't gotten approval from the Commodity Futures Trading Commission yet.

Ceremony for Schafer. While Vice President Dick Cheney officially swore Ed Schafer into the post of USDA Secretary Jan. 28, a formal, ceremonial swearing-in event will take place today at USDA. Jim Wiesemeyer reports that President Bush is expected to be at the event taking place at USDA's Washington headquarters.

Firm loses federal inspections. USDA announced it has suspended inspection operations at Westland Meat Company based on the establishment's clear violation of Federal regulations and the Humane Methods of Slaughter Act. The plant is involved in the matter which came to light last week via a video showing workers at a Chino, Calif., slaughter facility using electronic prods and forklifts to move "downer" cows to slaughter.