Agribusiness Update for Tuesday 6/11/13

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

The Canadian government has released a statement in response to the submission of the amended Mandatory Country of Origin Labeling rule to the WTO. Two ministers said the U.S. government continues unfair trade practices that are severely damaging to Canadian industry and jobs despite consistent rulings by the WTO. They have released a list of U.S. commodities for possible retaliation - including beef, pork, chicken and a wide range of grains, fruits and dairy products.

Senate Agriculture Committee Chair Debbie Stabenow has expressed many concerns with the proposed sale of Smithfield Foods to a Chinese firm. As a result - she said Friday that she plans to get her committee involved in the government’s evaluation of whether the sale should move forward. She said the Ag Committee will insist on becoming involved in the process the Treasury Department will undertake to evaluate the proposed sale.

The 2013 Farm Bill has passed the Senate and is being sent on to the House. The bill stalled last year in the House after bitter arguments broke out over the extent of cuts to food stamps for the poor. The House will debate on their version coming up later this month.?
That’s today’s Agribusiness Update from the Ag Information Network.