Ag in the News

04/14/2008

National

JBS 1Q beef exports down in volume, up in revenue
JBS S.A. said its beef exports in the first quarter of 2008 totaled 536.6 thousand tons, down 20.6 percent from the same period last year, but were up 8.6 percent in value to $1.17 billion from $1.07 billion in the first quarter of 2007. MORE!

Subcontractors in failed Mississippi Beef plant to get $696,000 in settlement
Nine subcontractors that worked on the failed Mississippi Beef Processors plant in Oakland, Miss. have settled their lawsuit against the construction project's management company, according to the Jackson Clarion-Ledger. The companies are to get a total of $695,883.60, the entire amount the subcontractors had sought, the paper said, quoting court documents. MORE!

Kayem launches new chicken sausage, slow-cooked meats
Chelsea, Mass-based Kayem Foods Inc. has added a new Mediterranean-inspired chicken sausage to its al fresco line and launched a new line of slow-cooked meats through its foodservice division. MORE!

K-State offering special session on proper cattle handling
As part of the International Beef Symposium on Beef Cattle Welfare, offered by the Beef Cattle Institute May 28-30 at Kansas State University, a pre-symposium session will be offered May 28 on cattle welfare through proper cattle handling. MORE!

Kraft partners with Six Flags on marketing initiatives
Kraft Foods and theme park company Six Flags have announced they will collaborate on marketing initiatives highlighting brands including Kraft's Lunchables Lunch Combinations. MORE!

Wrap Up

Firm start to the week. Corn, soybeans and wheat posted big trading ranges and made swings to both sides of unchanged overnight, but finished higher. Soybeans were 11 to 21 cents higher, corn 2 to 7 cents higher and Chicago wheat 12 to 14 cents higher.

Farm bill update. Farm bill negotiators today will finalize the ag portion of the negotiations, with the House increasing their offer by around $450 million, to nearly equal the $6 billion funding above baseline in the latest Senate offer. Still unknown is whether the House will go along with a permanent ag disaster program and if so, how much it will be funded. You can read more on this via the return of Jim Wiesemeyer's Washington Insight column available free on the front page of AgWeb.com!

Food, not finance, focus.  The meetings of the World Bank and International Monetary Fund (IMF) this past weekend focused on the current financial market turmoil, but also on rising food prices. The head of the World Bank is calling on countries to step up to the plate on food aid and contribute some $500 million to address the situation. Corn-based ethanol earned criticism along with strong demand and efforts by countries to restrict grain exports as factors in pushing up food prices globally.

Another landmark gone. South St. Paul's bustling stockyards have gone the way of others with their closure last Friday. The venerable auction site which once occupied some 160 acres will now be converted over to house people, not livestock.