Agribusiness Update for Wednesday 09/25/13

While House lawmakers will return to Capitol Hill Wednesday - House Ag Committee Chairman Frank Lucas says House leaders likely won't name farm bill conferees until early October. That's because of the steps that need to take place before conferees can be appointed. The House will first need to pass a procedural motion to combine the farm-only farm bill passed earlier with the just-passed nutrition bill.

The Council for Agricultural Science and Technology - has released a new paper that addresses the commonly heard argument that livestock compete with humans for food resources - providing support for the continued existence of livestock production. The paper available online at (www.cast-science.org).

New analysis from energy economist Philip K. Verleger shows consumers are saving fifty-cents to a-dollar-fifty per gallon on gasoline because of increased ethanol production under the Renewable Fuel Standard. Verleger says the implication for world consumers is clear - the U.S. renewable fuels program has cut annual consumer expenditures in 2013 between 700-billion and 2.6-trillion dollars.

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