China To Set Up Central Food Safety Body - State Media
BEIJING (AFP)--China will set up a central food safety commission following several scandals involving dangerous food products, state media said Wednesday. The commission will come under the auspices of the State Council, or Cabinet, and will be set out under a new food safety law to be put to the annual parliamentary session next month, the Xinhua news agency said. The commission's task would be "to strengthen the country's food monitoring system, whose low efficiency has long been blamed for repeated food scandals," the report said.
GRAIN WORLD: Canadian Hog Sector Finally Seeing Some Profits
WINNIPEG (Dow Jones)--Canadian hog producers are starting to see some profitability for the first time in more than two years, but whether those profits stay will be dependent on the value of the Canadian dollar, according to an analyst. Steve Dziver, of Winnipeg-based consulting firm Phoenix Agri-Tec Inc., said Canada is a price taker and not a price maker in the hog industry, with prices in the country directly following U.S. values due to the interrelated nature of the North American market.
WHO Study Warns Of 4-year Wait For Bird Flu Vaccines
GENEVA (AFP)--The production capacity of bird flu vaccines has tripled since 2007 but it could still take up to four years to meet global demand if a pandemic were to occur, a World Health Organization-backed study said Tuesday. Even in the best case scenario, 18 months would be required for sufficient doses of medication to be produced to cover the worldwide population, the study said. Marie-Paule Kieny, who heads the WHO's initiative for vaccine research, expressed concern that production facilities might cut back because supply had
more than met demand for regular, seasonal vaccines.
STORIES OF INTEREST:
Australian Govt Funds A$27M Livestock Greenhouse Gas Studies
CANBERRA (Dow Jones)--The Australian government will spend A$26.8 million over the next four years to fund 18 research projects that aim to finds ways to reduce greenhouse gas emissions from livestock, Minister for Agriculture Tony Burke announced late Tuesday. The projects will include exploring dietary supplements and alternative feeds to reduce methane production in livestock, the use of chemical or biological controls of bacteria in the stomach of livestock to help reduce emissions, and genetic approaches, such as selective breeding, to lower livestock emissions, he said.
Maple Leaf Recalls 1,100 Cases of Beef Frankfurters, Hot Dogs
TORONTO, Feb. 24 /CNW/ - Maple Leaf Foods today announced that it is proceeding with a voluntary recall of approximately 1,100 cases of wieners produced at its plant in Hamilton, Ontario because the products were shipped in violation of the company's rigorous food safety protocols. The affected products are Shopsy's Deli Fresh All Beef Frankfurters and Maple Leaf Hot Dogs Original.
THE MARKETS:
CME Livestock Outlook: Traders See Lower Cattle, Hogs Opens
KANSAS CITY (Dow Jones)--Chicago Mercantile Exchange live cattle and feeder cattle futures prices on Wednesday were expected to open steady to as much as 30 points lower. Lean hog futures are called weak to 50 points lower on followthrough selling but the market may find support at or near the new contract lows hit Tuesday, analysts and brokers said. Also, most contracts are technically oversold, which may limit the declines. Pork bellies are called flat to possibly firm on followthrough after board prices turned higher Tuesday. March bellies were up the daily limit on Tuesday, while May closed at its session high. Flat to weaker fresh belly prices, however, may limit board gains.
US Cash Cattle Pre-Open: Futures Bump Sparks Cash Price Hope
KANSAS CITY (Dow Jones)--After Tuesday's sharp climb in live cattle futures prices, there is hope among cattle feeders that maybe, just maybe, fed cattle prices will move higher this week. No bids were reported anywhere in the Plains, but asking prices range from $83 to $85 per hundredweight on a live basis and $132 dressed. Market analysts and brokers said a seasonal boost to beef values is late, and many were thinking Tuesday's rally could spark higher cash prices this week.
US Cash Hogs Pre-Open: Weak-$1 Lower; Demand Still Slow
KANSAS CITY (Dow Jones)--The Midwest direct hog markets on Wednesday are expected to trade weak to $1 per hundredweight lower on continued slow buying interest from packers and ample supplies. Expectations for Saturday's slaughter remain mostly from 65,000 to 70,000 head, light compared with recent weeks and the apparent large supplies of hogs that are available. Packers are working to improve their margins while movement of pork in the wholesale markets is sluggish, according to analysts and livestock dealers.
By Curt Thacker, Dow Jones Newswires; 913-322-5178; curt.thacker@dowjones.com