Agribusiness Update for Thursday 10/02/14

Agribusiness Update for Thursday 10/02/14

This is the Agribusiness Update...I'm Greg Martin...

US farmers, ranchers, and fishery cooperatives set a new sales record in 2013, with total business volume of more than 246 billion dollars.  That number surpasses the record set the year before by 8 billion dollars.  This third consecutive year of record sales by Ag cooperatives reflects increased sales in the overall farm economy in 2013. U-S co-ops also enjoyed a robust job growth over the previous year.  The number of full-time employees working for ag co-ops climbed by almost 7,000 in 2013, to 136,000.  That's up 5 percent from 2012.

A Parma, Idaho dairy was recently the subject of a recall of tainted milk. The recall caused the dairy a lot of damage as health officials tested their milk and suspended their license. It has since come to light that the milk tests came back clean of any problems and it's forcing officials to look elsewhere for the cause of the contamination. Question is now whether or not the dairy can make up the business and recover. As for the cause of the illness, the investigation is still underway.

That's today's Agribusiness Update from the Ag Information Network.

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