10/22/08 DOJ Stops Merger & Milk Prices Coming Down

DOJ Stops Merger & Milk Prices Coming Down plus Food Forethought. I'm Greg Martin with today's Northwest Report. The Department of Justice has intervened in a proposed merger of U.S. Premium Beef and National Beef Packing Company. The suit contends the deal would cause financial hardship on consumers and producers and harm industry competition. The DOJ concluded that the sale would result in lower prices paid to cattle suppliers and higher beef prices for consumers. Milk prices at the grocery store may continue to come down next year. Dairy operators could be coping with falling milk prices for another year according to Gerry Bange, USDA Outlook Board Chairman who says worldwide economic conditions may help bring those prices down. He also says non-fat dry milk market demand is down. BANGE: Somewhat weaker demand owing to the world economic situation right now so the demand now for U.S. non-fat dry milk has certainly weakened in recent weeks. The average 2009 all milk price has been revised as well. BANGE: Taking that down to $16.95 for 2009, down about 8% from 2008. Class 4 milk prices could fall another 11 ½% next year. Good news for dairy operator though is that feed and fuel costs are also beginning to see a decline. Now with today's Food Forethought, here's Lacy Gray. The end is in sight for this year's presidential campaigning, only 15 days to go. Thank God for small favors! Most people will be relieved, some will be disappointed, and even some will be deliriously happy after the November 4th ballot casting. But it won't be just the candidates being tested and closely examined this election, it will be the American voter as well. From the cities to the rural farm communities Americans will cast their vote for who they feel will be the next and best leader for our nation. We need to look past all the fluff and flash and look hard at the positions of both candidates; how they truly stand on health care, agricultural issues, taxes, education, energy and national defense. Of course the word "truly" is the key here, and the hardest to pinpoint. Most Americans haven't been this passionate and this perplexed about a presidential election in a long time. Voters will just have to pick the candidate they feel can "truly" get us through the fray. It's tough, it's exciting, its nerve wracking, and it's almost over. Thanks Lacy. That's today's Northwest Report. I'm Greg Martin on the Northwest Ag Information Network.