Agribusiness Update for Tuesday 10/1/13

Agribusiness Update for Tuesday 10/1/13

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

Canadian Cattlemen's Association Director of Government and International Relations John Masswohl says Canadian cattle producers are starting to feel the pinch from the U.S. country of origin labeling rule scheduled to be enforced in November. He says the market is starting to anticipate losses of around 50-dollars per head of cattle as a result of the latest rule.

According to U.S. Trade Representative Michael Froman - there is a lot of momentum in the Trans-Pacific Partnership negotiations. In fact - he says world leaders will work toward closing out the remaining issues - including agriculture - on the trade deal during meetings in Indonesia this week. The goal for the talks in Bali is to reach a binding trade facilitation agreement.

Senior executives of Shuanghui International have indicated the top priority following Thursday's closing of its acquisition of Smithfield Foods is to ramp up pork exports from the U.S. Shuanghui Chairman Wan Long said the guiding principle for this acquisition is to accelerate Smithfield's global expansion. The Hong Kong-based company plans to unveil details of new, premium pork products targeted at China's growing middle class.

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

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