Underpaying Hog Producers

Underpaying Hog Producers

Underpaying Hog Producers. I'm Greg Martin, this is Market Line. USDA's Grain Inspection, Packers and Stockyards Administration - or GIPSA - says it has evidence that JBS USA underpaid hog producers by an estimated 350-thousand dollars from January through November of 2007. GIPSA says the instrument that failed on occasion to obtain lean percent data for a particular carcass or carcasses in a lot is called a Fat-O-Meat'er according to JBS spokesperson Chandler Keys. KEYS: We're going to get to the bottom of this as soon as possible. We're going to work with producers immediately. We're going to work with USDA immediately. We believe we had a software error here and it hasn't happened since then. Checking on the markets...On Friday Chicago December corn trended 7-1/2 cents per cwt lower than Thursday's noon bids. Lower Chicago December corn futures weighed on cash corn bids. December wheat closed 3-3/4 to 4-1/2 cents per bushel higher compared to Thursday's closes. Portland soft white wheat mostly 5.95 up 5 to unchanged New crop December soft white 6.15 to 6.35 unchanged to dn 15 DNS and Hard Red numbers were not available December live cattle 100.125s +1.850 November feeders 109.375s +1.250 November Class III milk 15.55s -0.55 I'm Greg Martin and that's Market Line on the Northwest Ag Information Network.
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