Ag in the News

06/11/2008

National

Ag Secretary declares U.S. beef safe, calls Korean protests political
SAN ANTONIO — Secretary of Agriculture Ed Schafer toured two U.S. beef processing plants in Texas on Tuesday, declaring U.S. beef safe to eat and calling South Korean concerns about its safety politically motivated. MORE!

Supreme Court rejects appeals in donning-doffing suits involving Tyson, Cagle's
The U.S. Supreme Court has rejected appeals in labor lawsuits involving Tyson Foods Inc. and Cagle's Inc., effectively declining to reconsider when federal labor laws require employers to pay workers for time spent donning and doffing protective gear. MORE!

Oscar Mayer debuts Premium Beef Franks
Oscar Mayer has introduced Premium Beef Franks, hot dogs made with high-quality cuts of beef and unique spices, the Kraft Foods brand announced. MORE!

Montana to lose brucellosis-free status
The Montana Department of Livestock said a cow from the state's Paradise Valley region has tested positive for brucellosis, stripping the state of its brucellosis-free status. MORE!

Quiznos launches five-meat sandwich
Quizno's announced that is introducing a new $5 sandwich to its value menu that will feature a total of five different meats, including oven-roasted turkey, honey-cured ham, genoa salami, spicy capicola and pepperoni. MORE!

Dakota Beef: New partnership to conquer organic cattle 'supply myth'
When vertically integrated processor Dakota Beef and farmer-owned cooperative Organic Prairie last week announced a multi-year partnership to expand the U.S. organic beef cattle supply, they lauded it as the long overdue streamlining of the organic cattle industry. MORE!

Wrap Up

Overnight strength. Commodity prices headed higher overnight for corn, soybeans and wheat. Corn futures were 10 to 11 cents higher, soybeans 12 to 17 cents higher and Chicago wheat 7 to 10 cents higher in overnight trade.

Interagency group on commodities. The Commodity Futures Trading Commission (CFTC) announced it will establish an interagency committee to examine futures trading. The panel will consist of the CFTC, the Federal Reserve, the Department of the Treasury, the Securities and Exchange Commission, the Department of Energy, and the Department of Agriculture. 

South Korea gripped by protests. What started as a protest against the U.S. beef import deal has emerged into a broader criticism of South Korea's government. President Lee is promising a "new beginning," one which will likely mean new cabinet members. But the beef issue still remains unresolved as U.S. officials insist there will be no renegotiation of the deal.

Still U.S. ag trade black ink. While oil prices helped to push the overall U.S. trade deficit to its highest level in 13 months, it isn't U.S. agriculture's fault. The falling dollar has helped keep U.S. farm product exports strong. USDA says April trade data indicate a U.S. ag trade surplus valued at $2.4 billion, running the total for fiscal year 2008 to $21.890 billion.