News Update

News Update
Jan. 22, 2007

Japan Could Ease Import Restrictions

Japan is considering scaling back inspections of U.S. beef imports, according to Drovers Alert. Japanese officials are now reviewing its current practice, which requires every box of American beef to be checked by Japanese inspectors.

Senate Committee Adds Tax Cuts to Offset Minimum Wage Increase

The Senate Finance Committee voted to add $8.3 billion in tax breaks for small businesses to legislation that would increase the minimum wage, according to Food Systems Insider. Steve Anderson, president and chief executive officer (CEO) of the National Restaurant Association, stated the association commends the senators for granting small businesses the resources to offset minimum wage increases.

Organizations Request Biofuels Working Group

The American Meat Institute (AMI) and several national producer organizations called on the U.S. Department of Agriculture (USDA) to assemble a panel within the Office of the Chief Economist to study the emerging biofuels economy and its implications for livestock producers and animal agriculture. In a letter to Secretary of Agriculture Mike Johanns, the groups called attention to the effects of biofuel development on the U.S. livestock industry and its competitiveness.

According to AMI, the letter stated that “public focus on agricultural issues continues to expand as new and exciting technologies place the agricultural sector in the driver’s seat of America’s energy future. However, with these changes and developments have come significant concerns for the tens of thousands of farmers, farm families and all those involved in the $128 billion livestock, meat, dairy and poultry sectors.”

Growth in biofuels production and low corn and feed inventories have contributed to concerns as to the availability of feed inputs for animal agriculture.

The letter can be viewed at www.meatami.com/storylinks/2007/biofuelsletter011807.pdf.

Feed Outlook Available

USDA’s Economic Research Service (ERS) has released its report examining supply, use, prices and trade for feed grains. The report focuses on corn and includes supply and demand prospects in main importing and exporting countries. The report also contains information about sorghum, barley, oats and hay.

Visit http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1273 to view the report.

— compiled by Crystal Albers, associate editor, Angus Productions Inc.