Ag in the News

04/15/2008

National

JBS to become a banker: report
The world's largest beef producer can now become a banker. Sao Paulo-based JBS S.A. has received permission from the Central Bank of Brazil to open a bank with $17.8 million (U.S.) in starting capital, Business News Americas reported, citing local financial daily Gazeta Mercantil. MORE!

Clearly Canadian to acquire kosher meat brand
Vancouver, British Columbia-based Clearly Canadian Brands has signed a letter of intent to acquire Baldwin Street Kosher, a 3-year-old brand that includes hot dogs, sausages, salami and other kosher and gluten-free meat products. MORE!

Pork Checkoff promoting four new cuts to retailers
Aiming to increase profitability for U.S. pork producers, the Pork Checkoff is promoting four new pork cuts for the retail meat case. MORE!

Raley's rolls out line of premium beef
Sacramento, Calif.-based supermarket chain Raley's announced that it is launching its own brand of 100 percent Black Angus Beef cuts for consumers who are looking for restaurant-quality meats in the supermarket. MORE!

Consumers looking for socially responsible restaurants
Close to 80 percent of consumers claim they would respond favorably to a socially responsible restaurant by visiting more often and/or paying more, according to a recent study. MORE!

Wrap Up

Tapping Emerson Trust. The White House late Thursday announced it was directing USDA to tap the Bill Emerson Humanitarian Trust to meet emergency food needs abroad. The action is expected to result in some $200 million being made available for humanitarian aid efforts conducted via the U.S. Agency for International Development. The Trust contains around 33 million bu. of wheat and $117 million in funds.

Slow going for corn planting. USDA's first U.S. corn planting progress data released Monday afternoon underscored the continued challenges producers in some areas of the Corn Belt are seeing this spring. USDA's Crop Progress Report said 2% of corn is in the ground compared to 6% last year and 7% for the five-year average. Eight percent of spring wheat is sown, behind the 12% five-year average. Also, winter wheat condition ratings upticked slightly the past week.

Farm bill update.  The country's ag ministry has said there are 36 suspected cases of bird flu in the country and 20 cases have been confirmed as the virulent H5N1 strain. They've released no updated figures on how many birds have been destroyed. And the latest suspected case is about 70 kilometers from Seoul

South Korea giving some on beef. Reports from South Korea indicate that the country is willing to allow bone-in beef from the United States such as beef ribs, but is not willing to adopt OIE standards for specified risk materials (SRMS). Plus, Korea officials are signaling they'll maintain the 30-month age limit on beef imported from the United States.