More evidence that the economic slow down could continue into the third quarter. Economist Mark Vinter of Wells Fargo says wholesale inventories rose in May, while wholesale company sales declined:
"This report would suggest that the maybe the temporary lull in economic activity that we saw in the second quarter is not going to prove as temporary because the problems that were hitting the economy were more real than imagined."
SC Drought Impact
The worsening drought in South Carolina has made some livestock farmers eligible for federal disaster money. USDA says the weather has been so dry in ten counties that livestock farmers can get disaster money set aside for grazing animals. Officials say farmers who want to make a claim in the livestock forest disaster program have until the end of the year.
Egg Producers and HSUS reach agreement
The United Egg Producers Boardof Directors and the Humane Society of United States reached an agreement last week to petition the government for federal legislation to transition the industry from a conventional cage egg production business to enriched colony caged housing. HSUS Executive Director Wayne Pucelli:
"It is essentially a graduated program to allow egg producers to invest what they need to invest to essentially refurbish all of the hen houses in the United States."
National Pork Producers Council President Doug Wolfe says legislation pre-empting state laws on egg production would set a dangerous precedent and the pork industry is committed to animal well-being.
Ethanol Development moving forward
The industry is eagerly awaiting the next generation of biofuels. Ag Secretary Tom Vilsack explains some of the steps USDA and the Energy Department are taking to advance cellulosic ethanol development:
"It is one of many steps that we're taking at USDA and the Department of Energy to identify alternative feed stocks for ethanol production and for second and third generation biofuel production. USDA is engaged in establishing a robust research and development commitment in five regional research facilities and centers."