Ag in the News

03/13/2008

National

Maple Leaf to boost hog slaughter at Manitoba plant
Toronto-based processor Maple Leaf Foods plans to move to a full second shift at its Brandon, Manitoba, plant late next year, increasing the weekly hog slaughter rate to 86,000 from 75,000. MORE!

O.K. Industries to pay $21 million in poultry suit
A jury determined that Fort Smith, Okla.-based O.K. Industries and its poultry-processing subsidiary, O.K. Foods, must pay out $21 million to more than 300 growers as the result of a class-action suit filed in 2002, the Arkansas Democrat Gazette reported. MORE!

Cargill searches for sloppiest kid v Cargill Meat Solutions is searching for a sloppy kid under the age of 10. MORE!

Pork Checkoff analysis examines hogs sold through the spot market
An analysis of USDA price data by the Pork Checkoff shows fewer hogs sold through daily negotiated transactions (the spot market) during January 2008 than during previous years, although the prices of about half the hogs in the United States still are determined by the spot market. MORE!

Kraft names new strategy EVP
Northfield, Ill.-based Kraft Foods Inc. on Wednesday announced that Michael Osanloo will join the company as executive vice president, strategy in mid-April. MORE!

Wrap Up

Weekly Export Sales this morning. For the week ended March 6, traders expect: wheat sales from 500,000 to 650,000 MT; corn sales from 700,000 to 1.0 million MT; soybeans sales from 250,000 to 400,000 MT; meal sales from 25,000 to 75,000 MT; soyoil sales from 5,000 to 15,000 MT; and cotton sales from 100,000 to 150,000 running bales.

Dollar under pressure still. The U.S. dollar dipped under 100 yen for the first time since November 1995 in overnight action in Asia. The greenback also hit record lows versus the euro and the Swiss franc in Asia Thursday. Part of the pressure on the dollar overnight came as the fund managed by the Carlyle Group may be taken over by creditors. If retail sales data out this morning comes in short of expectations, the dollar is expected to see additional pressure today.

Farm bill extension approved. The House and Senate both passed an extension of the 2002 Farm Bill to April 18. The bill has already seen provisions extended once, with that expiration ending March 15. But even though the extension is in place to give farm bill writers more time, there are still only a handful of legislative days available ahead of April 18. But there's more going on as Jim Wiesemeyer notes in his Inside Washington Today dispatches found on the Pro Farmer page.

Crop Comments rolling in. We've brought the ever-popular AgWeb Crop Comments back to the main page -- just in time for the 2008 growing season. Take a moment to read what others are saying and offer up your views on what lies ahead for this year. Just drop a line to us via this link. Make sure to include your state and county/location.