Asia Pacific | Beef Eating on the UpJapanese beef consumption edges higher b...

Asia Pacific

Beef Eating on the Up
Japanese beef consumption edges higher but imported beef still struggles.

UPDATE 1-China says will buy U.S. wheat, other farm goods
Wheat futures jumped to the highest level in a year Wednesday on news that China will make "large scale" purchases of U.S. ag commodities.

Canadians support NLIS scheme for Australia
The head ofCanada's peak body for cattle producers has urged Australia to move ahead with a national livestock identification scheme. Dennis Laycraft has been invited by Animal Health Australia to talk about the Canadian experience following the detection of BSE, or mad cow disease, back in May.

Americas

Canadian beef moving south
Data gathered last Friday by the Canadian Food Inspection Agency show thatCanada shipped more than 55,000 tons of beef to the United States and Mexico since September. Weekly exports are between 7 percent and 40 percent above weekly volumes to the two countries last year, even with BSE related restrictions on the age and types of cuts they can export, according to Ted Haney, president of Canada Beef Export Federation. Last week, Canada shipped 6,637 tons of beef to U.S. buyers, bringing the total since September to 52,270 tons. Another 766 tons moved to Mexico, for total shipments there of 3,285 tons since October. Canada hopes to open beef exports to the Philippines and China soon. That movement is helping boost Canadian fed steer prices to 79 Canadian cents per pound (or 60 U.S. cents).

Mexico to put new trade accords on back burner
The Mexican government said on Wednesday once it reaches a free trade accord with Japan it will put other pending pacts on the back burner, closing the door temporarily on key regional neighbors Argentina and Brazil, according to the country's finance minister.

Europe

EU's call to end hormone sanctions rejected
Late last week, theUnited States and Canada rejected a European Union request to drop more than $120 million of sanctions imposed on the EU for banning imports of beef treated with growth hormones. The EU told the World Trade Organization's disputes-settlement body it had complied with a demand it provide more scientific information to back up its ban, and so the sanctions should be lifted. But U.S. and Canadian representatives told the WTO they did not accept that the ban had any scientific basis and that sanctions would remain. The WTO ruled against the EU in the dispute in 1998. The United States imposed sanctions worth $116 million a year and Canada C$11 million a year in retaliation for lost beef trade.

USA

Tight supplies continue to support fed-cattle prices
The cycle continues in the fed-cattle market. Feeders pull cattle forward for marketing in response to high prices, resulting in continued short supplies for coming weeks. Analysts at the Livestock Marketing Information Centernote that U.S. beef production has dropped off considerably this fall. Packers have had to bid aggressively for available cattle, and short supplies resulted in some plants operating for just four days last week. For the first ten months of this year, slaughter numbers ran only about 2 percent below last year's, according to the LMIC. Those numbers, however, have fallen sharply this fall. For the four-week period ending Nov. 8, U.S. weekly average, Federally Inspected beef production was about 13 percent below a year earlier. Analysts expect fed-cattle prices to decline somewhat over the next few months, but the LMIC projects an average price in the upper $90s for the fourth quarter of this year, which would be the first time ever that the average topped $90 on a quarterly basis. For more information, go to http://www.lmic.info/

Senate supports funding for COOL regulations
Debating the Ag Appropriations Bill this week, the U.S. Senate voted in favor of a non-binding agreement to retain funding for mandatory country-of-origin labeling. The Senate approved the measure by a vote of 58 to 36. This sets the stage for continued debate when the Appropriations Bill proceeds to conference committee with the House of Representatives. Earlier this year, House Appropriations Agriculture Subcommittee Chairman Henry Bonilla, R-Texas, successfully offered an amendment that withholds funding and delays implementation of mandatory COOL for another year. For more information on the COOL debate, go to www.meatami.com

Coming to U.S. grocery stores -- higher beef prices
With cattle prices up about 25 percent from the beginning of the year,U.S. consumers can expect more expensive beef at the grocery store and in restaurants for months to come, analysts said on Wednesday.

FAPRI: Robust Beef Prices for at Least 18 Months
University of Missouri Foodand Agricultural Policy Research Institute (FAPRI) livestock economist Scott Brown told a group of producers this week that cattle prices will be robust, if somewhat lower, through the coming year.

Robert Peterson Resigns
Former IBP head quits Tyson Foods, Inc. board of directors Cites for health reasons.

Asia Pacific

Beef Eating on the Up
Japanese beef consumption edges higher but imported beef still struggles.

UPDATE 1-China says will buy U.S. wheat, other farm goods
Wheat futures jumped to the highest level in a year Wednesday on news that China will make "large scale" purchases of U.S. ag commodities.

Canadians support NLIS scheme for Australia
The head ofCanada's peak body for cattle producers has urged Australia to move ahead with a national livestock identification scheme. Dennis Laycraft has been invited by Animal Health Australia to talk about the Canadian experience following the detection of BSE, or mad cow disease, back in May.

Americas

Canadian beef moving south
Data gathered last Friday by the Canadian Food Inspection Agency show thatCanada shipped more than 55,000 tons of beef to the United States and Mexico since September. Weekly exports are between 7 percent and 40 percent above weekly volumes to the two countries last year, even with BSE related restrictions on the age and types of cuts they can export, according to Ted Haney, president of Canada Beef Export Federation. Last week, Canada shipped 6,637 tons of beef to U.S. buyers, bringing the total since September to 52,270 tons. Another 766 tons moved to Mexico, for total shipments there of 3,285 tons since October. Canada hopes to open beef exports to the Philippines and China soon. That movement is helping boost Canadian fed steer prices to 79 Canadian cents per pound (or 60 U.S. cents).

Mexico to put new trade accords on back burner
The Mexican government said on Wednesday once it reaches a free trade accord with Japan it will put other pending pacts on the back burner, closing the door temporarily on key regional neighbors Argentina and Brazil, according to the country's finance minister.

Europe

EU's call to end hormone sanctions rejected
Late last week, theUnited States and Canada rejected a European Union request to drop more than $120 million of sanctions imposed on the EU for banning imports of beef treated with growth hormones. The EU told the World Trade Organization's disputes-settlement body it had complied with a demand it provide more scientific information to back up its ban, and so the sanctions should be lifted. But U.S. and Canadian representatives told the WTO they did not accept that the ban had any scientific basis and that sanctions would remain. The WTO ruled against the EU in the dispute in 1998. The United States imposed sanctions worth $116 million a year and Canada C$11 million a year in retaliation for lost beef trade.

USA

Tight supplies continue to support fed-cattle prices
The cycle continues in the fed-cattle market. Feeders pull cattle forward for marketing in response to high prices, resulting in continued short supplies for coming weeks. Analysts at the Livestock Marketing Information Centernote that U.S. beef production has dropped off considerably this fall. Packers have had to bid aggressively for available cattle, and short supplies resulted in some plants operating for just four days last week. For the first ten months of this year, slaughter numbers ran only about 2 percent below last year's, according to the LMIC. Those numbers, however, have fallen sharply this fall. For the four-week period ending Nov. 8, U.S. weekly average, Federally Inspected beef production was about 13 percent below a year earlier. Analysts expect fed-cattle prices to decline somewhat over the next few months, but the LMIC projects an average price in the upper $90s for the fourth quarter of this year, which would be the first time ever that the average topped $90 on a quarterly basis. For more information, go to http://www.lmic.info/

Senate supports funding for COOL regulations
Debating the Ag Appropriations Bill this week, the U.S. Senate voted in favor of a non-binding agreement to retain funding for mandatory country-of-origin labeling. The Senate approved the measure by a vote of 58 to 36. This sets the stage for continued debate when the Appropriations Bill proceeds to conference committee with the House of Representatives. Earlier this year, House Appropriations Agriculture Subcommittee Chairman Henry Bonilla, R-Texas, successfully offered an amendment that withholds funding and delays implementation of mandatory COOL for another year. For more information on the COOL debate, go to www.meatami.com

Coming to U.S. grocery stores -- higher beef prices
With cattle prices up about 25 percent from the beginning of the year,U.S. consumers can expect more expensive beef at the grocery store and in restaurants for months to come, analysts said on Wednesday.

FAPRI: Robust Beef Prices for at Least 18 Months
University of Missouri Foodand Agricultural Policy Research Institute (FAPRI) livestock economist Scott Brown told a group of producers this week that cattle prices will be robust, if somewhat lower, through the coming year.

Robert Peterson Resigns
Former IBP head quits Tyson Foods, Inc. board of directors Cites for health reasons.