Farm News, December 14, 2016

Consumers Set to Benefit from Lower Global Meat Prices

A report from Rabobank shows consumers will benefit from downward pressure on global meat prices in 2017. The Rabobank Food & Agribusiness Research and Advisory group says high supply and competitive markets are expected to push down current prices, while global meat consumption continues to rise. Rabobank also expects China to maintain record levels of pork imports into next year. China's beef and poultry imports are also expected to rise. But the market is being driven by the current supply of beef and pork, which is much greater than demand. Meanwhile, organizers of the report say U.S. producers head into 2017 grappling with potential changes with the country's trade policy and further currency movements, adding more potential downward pressure.

USCA Urges Action on Farmer Fair Practices Rules

The United States Cattlemen’s Association sent letters this week to the current and incoming Administrations regarding the associations near and long-term priorities. USCA issued an immediate request to President Barack Obama to continue work on restoring basic market protections for U.S. cattle producers. Late this year, the Department of Agriculture initiated the rulemaking process for the Grain Inspection, Packers and Stockyards Administration, or GIPSA, Farmer Fair Practices Rules. The two proposed rules, and one interim rule were sent to the White House Office of Management and Budget for approval. In its letter, USCA asks the Administration to move forward with publishing the rules for public comment. In its letter to President-Elect Donald Trump, USCA is requesting a swift and seamless transition.

Source;  NAFB News