BEEF Daily October 21, 2009

At times, it feels like the general consumer doesn’t understand what we do on our farms and ranches. In the past few years, it has become evident that the public mistrusts the American farmer and rancher, which is unfortunate, because we have the same worries and concerns as they do. Like our consumers, we worry about animal care, the environment, food safety and sustainability. Yet, so often, the plight of the ranchers themselves is forgotten. Profitability, good health and a well-balanced lifestyle are sometimes hard to achieve in the 24/7 business of producing food, but it hardly seems like the media is ever concerned about that. However, this week in MSN Careers, Career Builder Editor Kate Lorenz identifies America’s Most Dangerous Jobs, and she lists the challenges farmers face in her countdown. Finally, a media source that remembers humanity and recognizes the hard and dangerous work farmers and ranchers do on a daily basis. Read on for an excerpt of her article… And, please remember to be safe and smart this harvest season. God Bless.

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A weak U.S. dollar has encouraged investment in commodities, resulting in positive activity for agriculture, according to a Texas AgriLife Extension Service economist. “With regards to index investments, they (investors) buy these as a hedge against inflation, and when you have investment dollars coming out of the closet, many are putting money into commodities and that’s good for agriculture,” said Dr. Mark Welch, AgriLife Extension grain marketing economist. A weak dollar allows foreign investors more purchasing power for U.S. products, and this has led to investment opportunities in commodities such as oil, which hit $78 a barrel recently. Index funds will also seek other commodities outside the energy sector, Welch said. “This will also include agricultural commodities, which can lead to some positive activity for the agricultural industry as a whole,” said Welch, who recently discussed market implications at the 2009 Brock Faulkner Cattleman’s Clinic in Bryan.

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Pilgrim’s Pride Corp. today announced that it has received early antitrust clearance from the Federal Trade Commission (FTC) and Department of Justice for the company’s previously announced stock purchase agreement with JBS USA Holdings Inc. (JBS U.S.A.), a subsidiary of JBS S.A. Last month, Pilgrim’s Pride and six of its subsidiaries (the Debtors) filed a joint plan of reorganization and related disclosure statement with the U.S. Bankruptcy Court for the Northern District of Texas. Under the terms of the joint plan of reorganization, Pilgrim’s Pride has entered into an agreement to sell 64% of the new common stock of the reorganized Pilgrim’s Pride to JBS U.S.A. for $800 million in cash.

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Supporters and opponents of state Issue 2 clashed last night about whether the livestock-standards proposal is a "constitutional grab" by powerful agribusiness interests or much-needed protection for Ohio's farms and food supply.
Both sides of the issue that Ohioans will see on the Nov. 3 ballot got a full airing during a two-hour debate at Independence Hall on the Ohio State University campus. The event was sponsored by the Ohio Liberty Council, a coalition of on- and off-campus organizations.

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Meet BEEF Daily Editor beefmagazine.com/news/amanda-nolz/">Amanda Nolz. With her boots planted firmly on the ground as both a cattle producer and an agriculture writer and speaker, this young cattle industry professional presents her unique perspective on pertinent industry issues and trends each Monday to Thursday morning.

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