USDA has sent the White House OMB a draft of new livestock marketing and contracting regulations under GIPSA. Some of the controversial provisions in the original 2010 draft are apparently removed while new ones have been added, according to industry briefings held by USDA.USDA has sent the White House Office of Management and Budget (OMB) a draft of new livestock marketing and contracting regulations under the Grain Inspection, Packers and Stockyards Act (GIPSA). This is the latest version of the draft rule released in June 2010 as required by Congress in the 2008 Farm Bill. Specifically, Congress directed USDA to look at five issues related to production contracts and criteria for determining:
Whether an undue or unreasonable preferenc...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
