Ag in the News

04/04/2008

National

Meyer Natural Angus to acquire Coleman beef division: industry sources
Loveland, Colo.-based Meyer Natural Angus has agreed to purchase Coleman Natural Foods' beef business, according to industry sources who spoke with people inside both companies. MORE!

Smithfield announces senior management changes, new pork group position
Smithfield Foods, Inc. said it has named George Richter to the new position of president and chief operating officer of its pork group and named Joseph W. Luter IV executive vice president of Smithfield Foods as part of a senior management reorganization. MORE!

FSIS announces agenda for E. coli meeting
FSIS has released the agenda for its April 9-10 public meeting, titled, "E. coli O157:H7 — addressing the challenges, moving forward with solutions." MORE!

Alderfer family sells meat company to former board chairman
Harleysville, Pa.-based premium smoked meat processor Alderfer Inc. has been sold by the Alderfer family to Kenneth A. Longacre, a former chairman of the company's board. MORE!

Wrap Up

Mixed overnight trade. Soybean futures were 11 to 13 cents higher in overnight trade. Chicago wheat futures were fractionally to 3 cents higher in the most actively traded contracts. Corn futures were steady to 1 cent lower.

Key Employment data today. Those watching for more evidence the U.S. economy is in recession will focus in on the Employment Report from the Labor Department this morning. After job contraction of 22,000 in January and 63,000 in February, expectations are for another 60,000 decline to be announced in the data this morning.

Argentine, Brazilian situation. Industry sources in Argentina expect export and crushing facilities to be back to normal operations by Monday. Farmers in the country suspended their strike earlier this week and soybeans are again flowing to market. Meanwhile, shipping operations remain slowed at the Port of Paranagua in Brazil due to a "slowdown" by ship loaders, although a quick resolution to the situation is expected.

Cost of cutting greenhouse gasses. The International Monetary Fund says that the effects of trying to mitigate greenhouse gasses could trim world economic growth. Implementing policies to cut greenhouse gasses 60% from 2002 would leave the global economy about 2.6% smaller than it otherwise would be in 2040.