v      Cut out values have gained about $10/cwt over the last week but it all appears to be going in the packers’ pocket.  A languishing futures market, linked to the pathetic stock market, has made willing sellers of hedgers.  This has kept the cash market steady (e.g. 145-146 grid) at best with last week in the upper Midwest.

v      Obama won the Presidential election, leaving some Republicans and Fiscal conservatives wary. Those worried may be comforted knowing both the National Farmers Union and the American Farm Bureau Federation confidently support Obama. The President of the NFU, Tom Buis, encouraged citizens and backed the new President Elect, stating: “Obama won by addressing the forgotten middle…He has a rural vision.”**

v      How’s your record keeping?  New COOL procedures require producers to make information available to buyers about their animals’ country of origin-and to keep accurate records for a year after a transaction.  If there is any information you’re not clear on, call your Nexus representative to ensure you’re providing the proper documentation for your cattle.***

v      In response to COOL, some meat plants have been refusing animals from outside the U.S. borders.   The Canadian Cattlemen’s Association and the Canadian Pork Council are urging their government to challenge the new law; speculating it could cost the industry $800 million a year, and cause some producers to go out of business.****

v      Come visit us at the NFO National Convention, January 12^th-15^th in Coralville, IA.  For more information visit: www.nfo.org

**Schuff, Sally.”How Will Obama affect global Agriculture.”11 Nov.2008.www.ellinghuysen.com/news/articles/77797.shtml

*** “Country of Origin Labeling.”USDA. 12.Nov.2008. www.ams.usda.gov/AMSv1.0/getfile?dDocName=STELPROC5073626

**** “Cool Sets Stage for U.S.-Canada Trade Battle.”3 Nov.2008.The Pig Site.13 Nov.2008. www.ellinghuysen.com/news/articles777386.shtml

NOTICE:  

Nexus Marketing (www.nexusag.org) is sending you this e-newsletter to keep you better informed.

Subscribe additional email addresses to receive the Nexus eNote by sending an email to subscribe@nexusag.org with the word “subscribe” in the subject line and the email addresses you wish to add in the body along with their name.

Unsubscribe from the Nexus eNote by sending an email to unsubscribe@nexusag.org from your email account with the word “unsubscribe” in the subject line and your name in the body.

©2008 Nexus Marketing