Reuters — The U.S. Senate on Wednesday blocked a bill that would nullify state and local efforts to require food makers to label products made with genetically modified organisms (GMOs) as the industry races to stop Vermont’s law from taking effect on July 1. The proposed legislation from Republican Senator Pat Roberts of Kansas comes […] Read more
U.S. Senate blocks bill that would override state GMO labeling laws
U.S. livestock: Surging beef prices push CME live cattle higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle contracts closed higher on Tuesday, driven by a recent surge in wholesale beef prices that stirred optimism for cash prices later this week, traders said. April futures ended 1.425 cents/lb. higher at 140.725 (all figures US$). June closed up 1.5 cents/lb. at 130.325 after peaking at […] Read more
FAO chief expects food prices to fall further
Abu Dhabi | Reuters — World food prices are seen falling further this year having settled near their lowest in seven years pressured by slowing economic growth, the United Nations’ Food and Agriculture Organization’s (FAO) director general said Tuesday. The FAO’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy […] Read more
International dairy prices, volumes fall at auction
Wellington | Reuters –– International dairy prices fell overnight at the fortnightly GlobalDairyTrade auction, despite market expectations that prices might rise. Fonterra’s GlobalDairyTrade Price Index dipped 2.9 per cent, with an average selling price of $2,190 per tonne, in the auction held on Tuesday (all figures US$). A total of 20,406 tonnes was sold at […] Read more
U.S. grains: Soy, wheat fall after hitting multi-week peaks
Chicago | Reuters — U.S. soybean futures fell on Tuesday, setting back from their highest since Dec. 7 on dry weather in South America that will allow farmers to accelerate the harvest of what is expected to be a huge crop, traders said. Wheat futures also closed lower, with traders reporting mild profit taking following […] Read more
EU promises protesting farmers more help, no new money
Brussels | Reuters — The European Commission announced more help for the agriculture sector on Monday, following protests by farmers who say they have been hit hard by a Russian ban on Western food imports. The focus of the support package is on the dairy, pigmeat, fruit and vegetable sectors. It includes measures such as […] Read more
Klassen: Feeder market adjusting to various factors
Western Canadian feeder markets experienced a mixed volatile tone over the past week. Replacement cattle over 800 lbs. were $3 lower to $8 higher on average, while lighter weight categories traded $10 lower to $10 higher in comparison to week-ago levels. Larger volumes of backgrounded yearling cattle are coming on the market at this time […] Read more
U.S. livestock: CME live cattle close mostly firm
Chicago | Reuters –– Most Chicago Mercantile Exchange live cattle contracts gained modestly on Monday, after investors sold April and simultaneously bought deferred months in a strategy known as bear spreading, traders said. April ended 0.5 cents/lb. lower at 139.3. June closed up 0.275 cent/lb. to 128.825 and August finished 0.4 cent higher at 123.6 […] Read more
Peru lifts trade barriers to U.S. beef
Washington, D.C. | Reuters — Peru has agreed to lift its remaining safety barriers to U.S. beef exports, further opening one of the fastest-growing markets in Latin America to U.S. ranchers, Obama administration officials said Monday. U.S. Trade Representative Michael Froman and Agriculture Secretary Tom Vilsack said the agreement with Lima will remove certification requirements […] Read more
Prairie wheat bids rise with U.S. futures
CNS Canada — Cash spring wheat bids across Western Canada moved higher during the week ended Friday, as domestic bids tracked gains in U.S. futures. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up by $5 to $8 per tonne over the course of the week, according to price quotes […] Read more
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