Agribusiness Update 01/29/14

Agribusiness Update 01/29/14

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

Farm Bill negotiators announced a bipartisan, bicameral agreement on a five-year farm bill titled the Agricultural Act of 2014. According to a press release - the bill contains major reforms - including eliminating the direct payment program, streamlining and consolidating numerous programs to improve their effectiveness and reduce duplication and cutting down on program misuse. The press release states the bill also strengthens the nation's commitment to support farmers and ranchers affected by natural disasters or significant economic losses and renews a national commitment to protect land, water and other natural resources.

The American Meat Institute, National Cattlemen's Beef Association, National Chicken Council, National Pork Producers Council, National Turkey Federation and North American Meat Association say they will oppose the farm bill because it doesn't contain provisions to change the country of origin labeling for red meat rules or restrict implementation of the provision from the 2008 Farm Bill to alter USDA's implementation of the Packers and Stockyards Act. 

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

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