Ag in the News

03/14/2008

National

Boar's Head meats dispute settled: report
A dispute between a Virginia-based distributor and Sarasota, Fla.-based Boar's Head Provisions Co. has been settled in a U.S. district court. MORE!

Cagle family members withdraw Cagle's Inc. buyout offer
A group of Cagle family members have withdrawn their offer to buy Atlanta-based poultry processor Cagle's Inc., the company has announced. MORE!

AMI, NMA to host best hiring practices workshops
The American Meat Institute Foundation announced that it is teaming with the National Meat Association to present a series of three newly developed educational workshops on best hiring practices to be held in three separate cities. MORE!

Exports boosted U.S. pork industry income by $7.4 billion since 1986: Checkoff
U.S. pork exports have grown to 3.1 billion pounds carcass weight equivalent in 2007 from 86 million pounds in 1986, according to data analysis conducted by the Pork Checkoff and University of Missouri. MORE!

NCC names honorary life member
The National Chicken Council has named Ronald M. "Ronnie" Cameron, chairman and president of Mountaire Corp. of North Little Rock, Ark., an honorary life member of the NCC board of directors in recognition of his many years of service to the industry and the NCC. MORE!

Wrap Up

Corn, beans higher overnight. Corn futures were 3 to 4 cents higher, while soybeans were 8 to 11 cents higher in actively traded contracts overnight. Chicago wheat futures were 4 to 9 cents lower.

CPI data awaited. Consumer Price Index (CPI) data is out from the U.S. government this morning and financial markets are sort of treading water ahead of the numbers. The dollar continues to trade near 100 yen (a level it fell below Thursday for the first time since 1995), gold futures continue near $1,000 per ounce (a level they popped above Thursday) and oil futures have fallen back below $110 per barrel (after reaching $111 per barrel in Thursday trade).

Bush to sign farm bill extension. President Bush said he would sign an extension of the 2002 Farm Bill to run through April 18, but warned if lawmakers don't have a bill ready by then, he would recommend they pass a long-term extension of the bill of "at least" one year.

More economists thinking recession. Today's Wall Street Journal carries an updated poll of economists relative to their thoughts on a U.S. economic recession. Thirty-six of 51 respondents, or more than 70%, said in a survey conducted March 7-11 that the economy is in recession. And nearly half of those surveyed predicted the downturn will be worse than those of 2001 and 1990-91.