Rain
arrives too late for ailing Black Sea crops; yields fall
23
August, 2012
Falling
yields are painting an even bleaker outcome than anticipated for
Russia's wheat crop, while longed-for rainfall in Ukraine and
Kazakhstan won't rescue drought-hit harvests across the Black Sea
area, forecasters and analysts said on Thursday.
Declining
yields in Siberia and the Urals region prompted Moscow-based analyst
group SovEcon to cut its Russian wheat crop forecast to 39 million
metric tons from 39-41 million metric tons.
India's
Maharashtra Sugar production may fall 40%
23
August, 2012
A
40 percent drop in sugar production is expected in the coming
crushing season in India's Maharashtra, one of the major producer of
sugar, because of drought and use of sugarcane as fodder.
Wide
ranging discussions are carried out in the official levels to deal
with the details of the crushing season and steps to be taken to
handle the situation.
US:
Beef Herd Tumbles To 40-Year Low After Feed Costs Surge
24
August, 2012
The
worst U.S. drought in a half century and record feed prices are
spurring farmers to shrink cattle herds to the smallest in two
generations, driving beef prices higher.
Beef
output will slump to a nine-year low in 2013 after drought damaged
pastures from Missouri to Montana, the U.S. Department of Agriculture
estimates. The domestic herd is now the smallest since at least 1973,
and retail prices reached a record last month, USDA data show. Cattle
futures may rise 8.1 percent to an all-time high of $1.35 a pound in
Chicago in the next 12 months, said Rich Nelson, the chief strategist
at Allendale Inc. who has tracked the market for 15 years.
Feedlots
are losing $300 a head this month fattening cattle for slaughter,
after corn surged 61 percent since June 15, University of Missouri
data show. JBS (JBSS3) SA, the largest beef producer, fast-food chain
Wendy’s Co. (WEN) and Red Robin Gourmet Burgers Inc. are among
those planning price increases. The USDA expects food inflation of as
much as 4 percent in 2013, compared with an average of 3 percent
since 2004. A United Nations gauge of global food costs jumped 6.2
percent in July.
West
Nile outbreak in U.S. surpasses 1,100 cases
NBC,
22
August, 2012
The
United States is experiencing one of the biggest outbreaks of West
Nile virus in history, according to the federal Centers for Disease
Control and Prevention.
As
of Tuesday, 1,118 cases of the mosquito-borne disease had been
reported. That's the highest number ever reported at this point in
the year since the disease was first detected in the U.S. in 1999. If
cases continue to grow at this pace, the West Nile outbreak could be
the largest ever in the United States, said Dr. Lyle Petersen,
director of the CDC's Division of Vector-Borne Infectious Diseases.
So
far, 41 people have died from West Nile infections. That compares to
the 2011 season, for instance, in which 43 people died during the
entire year.
As
Barges Sit Idle Along the Mississippi, the Economic Costs Grow
Time,
22
August, 2012
Close
to 100 tows sit motionless in the shriveled Mississippi River along
an 11-mile stretch outside of Greenville, Miss. For every day a
single towboat sits idle, it costs about $10,000. So when you’ve
got at least 97 of them stranded, those costs start piling up
quickly.
As
the Midwest experiences its worst drought in 50 years, the
Mississippi River is hitting water levels not seen since 1988, a year
viewed by those in the industry as a benchmark of hard times. Back
then, hundreds
of barges sat idle
near the same location that they’re sitting today: Greenville.
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