News Update

News Update
Dec. 3, 2007

Feed Prices Up

Livestock producers paid 21% more to feed their animals in November than they did a year ago, the U.S. Department of Agriculture (USDA) said in its November Agricultural prices report.

Higher prices for complete feeds, feed supplements, feedgrains and concentrates more than offset lower prices for hay and forages. Prices were up 4% from October.

Soybean prices averaged $9.48 per bushel (bu.) in November, up 55% from a year ago while corn prices averaged $3.49 per bu., up 21% from last year.

Hog prices, averaging $38.50 per hundredweight (cwt.), were 14% below a year ago, while all beef cattle prices, at an average of $89.30 per cwt. were up 6% from last November.

— Adapted from a Meatingplace.com report.

Keynote Speakers Announced for the International Livestock Congress-USA

“Addressing the issues of global consumer demands [that] are placing new perspectives, requirements and procedures on the U.S. beef producers during the International Livestock Congress (ILC) 2008 will be eight industry leaders recognized for their knowledge, experience and vision of the global beef industry,” say ILC-USA 2008 program co-chairmen Mark Gustafson, vice president international sales, JBS USA, and Clint Peck, director of Montana Beef Quality Assurance, Montana State University.

The Global Consumer Demand Panel moderated by Harry Knobbe, Harry Knobbe Feed Yards, West Point, Neb., will consist of John Brook, regional director Europe, Russia and the Middle East, U.S. Meat Export Federation (USMEF); Joel Haggard, senior vice president, Asia-Pacific, USMEF; John Lundeen, executive director market research, National Cattlemen’s Beef Association (NCBA); and Homero Recio, Chief Operating Officer (COO), Agri-West International Inc.

“The quality and diversity of experience of these panelists provides a unique opportunity for the participants at the Jan. 15, 2008, International Livestock Congress-USA to hear for themselves what they need to do to produce for the global beef market,” Gustafson adds. For the complete ILC-USA 2008 program, pre-congress tours and registration information, visit www.theisef.com.

The ILC-USA 2008 will be at the Renaissance Denver Hotel, 3801 Quebec Street, 303-399-7500. A special room rate of $87 has been secured for conference attendees who specify ILC-USA. The cost of registration is $150 through Dec. 14, and $175 thereafter. Students may attend for $100. Registration includes the conference, grounds admission to the National Western, and all Jan. 15 activities, including a beef tasting experience.

— From a National Western release.

Peru Trade Promotion Agreement

The Senate will bring up the Peru Trade Promotion Agreement today for debate and then vote on the bill tomorrow, Dec. 4. This well-negotiated trade agreement is precedent setting and will allow U.S. beef products to compete in the Peruvian market against other regional beef producers.

Under the Peru Trade Promotion Agreement:

U.S. Choice and Prime beef will have immediate duty-free access.
All tariff rate quotas will be eliminated within 12 years.
Peru has committed to recognize the U.S. meat inspection system as equivalent to its own, thereby allowing imports from facilities approved by USDA-FSIS.
Peru has committed in writing to specific Sanitary and Phytosanitary (SPS) terms.

— From an NCBA release.

— Compiled by Mathew Elliott, assistant editor, Angus Productions Inc. (API)