Ag in the News

10/22/2007

National and International

USDA lists pork facilities in Russian export ban
Russia has banned exports from four U.S. pork slaughter facilities, three pork cutting and packaging plants and one pork cold storage facility, according to an updated certification list on USDA's Food Safety and Inspection Service Web site. MORE!

USDA to cease back verification of cattle age
USDA announced Thursday that, effective Jan. 1, 2008, cattle eligible for export verification programs can no longer be back verified for age, according to a report posted on Cattlenetwork. MORE!

McDonald's testing new steak, sausage breakfast burritos
McDonald's Corp. is testing two new McSkillet Burritos in a number of markets, further evidence that quick service restaurants continue to expand their breakfast menus in a bid to capture or retain breakfast-customer dollars. MORE!

USMEF optimistic on increased U.S. beef sales to European Union
U.S. beef exports to the European Union are expected to exceed 6,000 metric tons this year and could reach 12,000 metric tons in 2008 (excluding variety meats), U.S. Meat Export Federation President Philip Seng said in an interview. MORE!

Beef News Hebrew National introduces kosher beef breakfast sausage
Hebrew National, a brand of Omaha, Neb.-based ConAgra Foods, said it has introduced what it is billing as the first 100 percent pure kosher beef breakfast sausage on the market. MORE!

Wrap Up

Caution: Outside markets at work. The influence of outside markets was evidenced again in overnight trade to open the week. Stocks fell in the U.S. Friday and the downturn continued in Asian markets overnight. That in turn put pressure on U.S. a/c/e overnight trade. Soybean futures were 19 to 20 cents lower overnight, corn was 6 to 9 cents lower and Chicago wheat was 11 to 15 cents lower in the most actively traded contracts.

Shift on LDPs. The Bush administration proposed a shift in the way that producers can claim a Loan Deficiency Payment (LDP) as part of its farm bill plan. The House didn't follow the lead but it appears the Senate plan that is scheduled to be marked up this week has included a similar revision. Jim Wiesemeyer looks at the proposed change and takes a look at what lies ahead this week in Washington via Inside Washington Today dispatches found on the Pro Farmer page.

Russia grappling with high food prices. Reports out of Russia are that major food retailers have agreed to freeze prices to curb rising inflation. Also, Russia is poised to implement a wheat export duty to choke off shipments and now reports say the import duty on vegoils could be lowered and an export duty placed on sunflowerseed oil exports.

Cold Storage data today. USDA's monthly look at meat stocks is expected to show a larger-than-normal buildup in total pork stocks for the end of September due to heavy slaughter and pork production. Lighter cattle slaughter during September and solid beef demand, however, means total beef stocks should not be burdensome.