From: TSS ()
Subject: DAILY COMMODITY MARKET COMMENTARY BSE FUTURES ON TEXAS MAD COWs
Date: February 24, 2005 at 2:05 pm PST
LATEST FUTURES NEWS
Consumers Union urges USDA to revise mad cow test
Thursday, February 24, 2005 2:42:25 PM
http://www.afxpress.com
WASHINGTON (AFX) -- The Consumers Union asked Agriculture Secretary Mike Johanns to order new tests on a cow suspected in November 2004 of having mad cow disease. The consumer group said Thursday the U.S. Department of Agriculture failed to use an internationally recognized test known as Western blot when it retested the animal and gave it a clean bill of health. "The USDA should operate out of an 'abundance of caution' in its efforts to keep the U.S. food supply safe," the group wrote Johanns. Japan has yet to lift its ban on U.S. beef imports
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DAILY COMMODITY MARKET COMMENTARY
Thursday, February 24, 2005 17:20 GMT
Daily Report
by Traders Exchange Corporation
http://www.tradersexchange.com
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Meats
March Feeder Cattle stuck in the middle of a 5 month trading range with a high near 105 and a low of 95. Long term view is looking for Cattle prices to head for historical lows this year. Canadian Beef should begin showing up in the United States soon and Canada has a record amount of Cattle they need to do something with. Brazil and Australia are becoming major players in the export market and have huge if not record inventories as well. If major exporters have near record supplies is that not a sign that demand is soft or is production running too high. Is the world going to wake up to the fact the USDA testing methods for Mad Cow (BSE) here in the United States are pathetic when compared to how the Asian and European countries test their cattle. The U.S. Cattle industry would love to see the borders be reopened to Japan because before the ban the U.S. exported 1.4 billion dollars worth of cattle to Japan. Japan tests every cow for human consumption and the USDA test nothing when compared to Japan, who would want U.S. cattle.
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http://futures.fxstreet.com/Futures/content/100530/content.asp?menu=commodities&dia=2422005
TSS
