Agribusiness Update for Tuesday 6/04/13

This is the Agribusiness Update...I’m Greg Martin...

The National Farmers Union opposes the purchase of Smithfield by the Chinese company Shaunghui. With the news of the proposed acquisition - NFU President Roger Johnson says it’s worth considering the impact of increased consolidation of agricultural markets. In one fell swoop - Johnson says 26-percent of U.S. pork processing and 15-percent of domestic hog production will be controlled by a foreign company.

U.S. Ag Secretary Tom Vilsack and U.S. Department of Health and Human Services Secretary Kathleen Sebelius have appointed 15 nationally recognized experts to serve on the 2015 Dietary Guidelines Advisory Committee. The recommendations and rationale of this committee will serve as a basis for the eighth edition of the Dietary Guidelines for Americans.

USDA is still projecting agricultural exports in fiscal year 2013 will set a new record - though they have trimmed the forecast. The latest Outlook for U.S. Agriculture Trade pegged exports at 139.5-billion dollars - down from the previous estimate of 142-billion. Corn exports are down and wheat is down about two-million tons.

That’s today’s Agribusiness Update from the Ag Information Network.