It was announced this morning that Brazil’s Marfrig Global Foods has reached an agreement to acquire 51 percent of National Beef Packing Company for $969 million, thus making them the world’s second largest beef processor. According to a story from meat industry publication Meatingplace, Marfrig CEO Martín Secco said “With the transaction, we will have operations in the two largest …
Trump Acknowledges Ag Pain Due to Tariff Talk
In a speech on Thursday, Politico says President Trump admitted publicly that his trade crackdown is causing U.S. farmers and ranchers to feel pain. He also says steps will be taken to address that reality. The president has directed Ag Secretary Sonny Perdue “to use his broad authority to implement a plan to protect our farmers and agricultural interests.” Perdue …
Mexico Not Ruling Out Quick NAFTA Result
The Mexican Foreign Minister says he’s not ruling out a quick ending to the North American Free Trade Agreement (NAFTA) talks. Reuters says the top Mexican diplomat says progress is being made on several issue-specific tables of the negotiations. The U.S., Canada, and Mexico’s top negotiators were meeting late in the week to continue discussions. The talks have moved slowly …
The U.S. Calls For Additional $100 Billion In New Tariffs on Chinese Goods
A Bloomberg Report says President Donald Trump ordered administration officials to consider imposing an additional $100 billion worth of tariffs on Chinese goods. That announcement heightened concerns the two nations are heading toward a trade war. The move could unravel efforts by officials from both countries to take the rhetoric down a notch and come together to negotiate an agreement …
Putnam Comments on USDA’s Disaster Aid Implementation
Following U.S. Department of Agriculture Secretary Sonny Perdue’s announcement today that the USDA will begin implementing disaster payments of up to $2.36 billion in response to 2017 hurricanes and wildfires, Florida Commissioner of Agriculture Adam H. Putnam issued the following statement: “Florida agriculture took a direct hit from Hurricane Irma and has long-awaited this much-needed disaster relief. I thank Secretary …
USDA Implements Hurricane Recovery Funding for Ag Producers
2017 Wildfires and Hurricanes Indemnity Program to Aid Recovery in Rural Communities U.S. Secretary of Agriculture Sonny Perdue announced the U.S. Department of Agriculture (USDA) will make disaster payments of up to $2.36 billion, as provided by Congress, to help America’s farmers and ranchers recover from hurricanes and wildfires. The funds are available as part of the new 2017 Wildfires …
World Food Prices Rise 1.1 Percent in March
The United Nations food agency says world food prices rose during March, driven by increases in grains and dairy costs. The Food and Agriculture Organization’s food price index measures monthly changes for a basket of cereals, oilseeds, dairy products, meat, and sugar. The March index was 1.1 percent higher than the February number. When compared to a year ago at …
USDA and SBA Join Forces to Help Rural American Businesses
Ag Secretary Sonny Perdue and Small Business Administration chief Linda McMahon signed a Memorandum of Understanding on strengthening small businesses and the agricultural economies in rural America. They signed the MOU during a stop on Perdue’s “Back to Our Roots” tour in Ohio. The collaboration is designed to do several things, including enhancing investment opportunities in rural America. The organizations …
Growth Energy Responds To EPA Waivers
Growth Energy sent a letter to Environmental Protection Agency Administrator Scott Pruitt condemning the decision to give a small refinery waiver to one of the largest refiners in the U.S. They are also demanding a moratorium on waivers being issued by the EPA. Growth Energy CEO Emily Skor says they want the EPA to immediately stop issuing waivers and end …
White House Trade Chief Says U.S./China to Hold Trade Talks
A Bloomberg report says that American and Chinese officials have both indicated a willingness to find a negotiated solution to their trade differences. Top government officials are expected to hold talks before American tariffs on Chinese imports will take effect. White House Trade Adviser Peter Navarro tells CNBC that Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer will lead …