Agribusiness Update for Wednesday 11/27/13

While groups opposed to the law are still hoping Congress will take action - new country of origin rules have taken effect. Labels must now state where the animal was born, raised and slaughtered. USDA and supporters of COOL say this will provide clarity to consumers who want to know more about the origins of what they eat.

USDA is making nearly 10.5-million dollars in grants available to help agricultural producers enter into value-added activities designed to give them a competitive business edge. Secretary of Agriculture Tom Vilsack notes U.S. agriculture is connected to one in 12 American jobs. He says value-added products from homegrown sources are one important way agriculture generates economic growth.

China's ruling Communist Party is loosening its one-child-per-family policy. With the new rules, couples are allowed to have two children if one of the parents is an only child. China is already an economic powerhouse, but an increase in population will likely have an impact on U.S. agriculture. While not immediate, the demand for corn, soybeans, meat and dairy products will likely grow.

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