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Mexico

Economic Growth Prediction Reduced

The Bank of Mexico (Baxico) has reduced its projections for Mexican economy growth in 2002 from 1.8 to 1.3%. According to Baxico’s vice governor, Mexico’s economy is adversely affected by its strong dependence on the U.S. economy, the political and economic uncertainty in Latin America’s most populous country, Brazil, and the prospect of war in the Middle East.

The 5 to 7 percent annual growth rates Mexico experienced in the recovery after the 1994 peso devaluation crisis are no longer seen as sustainable, and anemic growth in 2002 will dictate an austere federal budget in 2003.

United States

Pork Checkoff Stay Granted, Checkoff
Continues During Appeal

Collections and programs of the pork checkoff will continue through a stay granted Nov. 15 by the United States Court of Appeals for the Sixth Circuit. A Federal District Court in Michigan found the pork checkoff unconstitutional on Oct. 25, but the stay will allow the Justice Department time to appeal the decision.

The pork checkoff has played a major role in transforming the United States from a net importer of pork to a net exporter, according to Craig Christensen, a pork producer from Ogden, Iowa, and vice president of the National Pork Board. University of Missouri studies have shown that the export program alone has added more than $2 to the sale price of hogs. “You bet we are glad to see this program continue. The pork checkoff provides the tools we all need on our farm, but don’t have time or resources to do individually,” Christensen said.