August 13, 2018  



Today's News Summary:

Leading the news today is word that Buffalo Wild Wings rode the development of flat-screen TVs and smartphones to build its chain of sports bar-style restaurants coast-to-coast. Sports betting may provide a new round of growth. The Golden Valley-based chain, is considering ways to incorporate betting into its restaurants after a Supreme Court ruling in May struck down a 1992 federal law that banned sports gambling in most places.

In other news, the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) report Friday at noon EST, showing the latest outlook for livestock, poultry and dairy. The forecast for total meat production in 2018 is raised from last month as increases in broiler production more than offset declines in beef, pork, and turkey production.

Elsewhere, on Wednesday, August 1, the Senate passed the Minibus Appropriations bill with an amendment sponsored by Senator Deb Fischer (R-NE) that would delay the implementation of the Electronic Logging Devices (ELDs) mandate for livestock haulers by one more year. Livestock haulers are already operating on a delay until the end of the Fiscal Year, but this amendment would extend that delay to Sep. 30, 2019.

The National Cattlemen's Beef Association (NCBA) said it is fully committed to the Beef Checkoff Program and the state beef councils who carry out necessary demand-building programs on behalf of the industry. For more than 50 years, state beef councils have been the cornerstone of beef promotion, enjoying widespread support from the vast majority of the beef producers who invest in the Beef Checkoff.

Finally, world demand for U.S. soybeans remains strong and China still needs American soybeans, even if at reduced volumes in a trade war with the U.S., an LSU AgCenter report says, but depressed prices already have wiped out profits for many Louisiana soybean farmers.


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By Linda Lindner

llindner@foodmarket.com


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