Ag in the News

01/09/2008

National and International

Australian beef exports to Japan fall
Japanese demand for Australian beef fell in 2007, with total exports for the year declining to 377,864 metric tons, 7 percent lower than the record set in 2006, according to Meat and Livestock Australia. MORE!

Lean Cuisine introduces new flatbread melts
Nestle USA announced the introduction of a new line of flatbread melts to its Lean Cuisine brand of frozen low-calorie meals. MORE!

Canadian chicken company fined after explosion kills worker
Bradford, Ont.-based chicken processing company Sure Fresh Foods has been fined $150,000 following the death of a worker who was severely injured in an explosion on the job. MORE!

A wing and a waiver: Chicagoans to eat wings at their own risk
Chicago tavern Jack Melnick's Corner Tap announced that it will begin selling chicken wings covered in one of the world's hottest peppers — but only to customers who agree to sign a legal waiver. MORE!

Wrap Up

Oil price outlook. The Energy Information Administration's (EIA's) latest "Short-Term Energy Outlook," released Tuesday, expects crude oil prices to average $94 per barrel for January and to average $87 for the year as a whole. By 2009, increased oil production should ease the supply crunch, dropping average crude oil prices to $82 per barrel, according to the report. Jim Wiesemeyer looks at more details of the projections in his Inside Washington Today column on the Pro Farmer page.

China says it will step in on prices. China's cabinet said today that it would temporarily intervene in the market to curb price rises or basic necessities like food, underlining its concern over mounting inflationary pressures. China is currently facing its worst consumer inflation in 11 years, driven largely by soaring food prices.

China grain exports. According to China's Ministry of Agriculture, in the first 11 months of 2007, the country exported 9.2 million tons of cereal grains and imported 1.44 million tons. Of those exports, China said they included 1.16 million tons of rice, 4.87 million tons of corn and 2.68 million tons of wheat.

Australia beef exports to Japan fell in 2007. Australia's beef exports to Japan fell 7% in 2007 compared to 2006 when those shipments reached a record level. The strong Australian dollar, competition from the U.S. and resistance to higher prices from Japanese buyers were cited as factors in the sales downturn.