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$120 Oil Impacts Ocean Freight

Record fuel prices are impacting ocean freight, resulting in higher costs for many of our customers.

This is, unfortunately, not the only factor pushing freight costs up. High export demand, fueled by the low US dollar, is causing shortages of containers and making it near- impossible to "book" a place on the many ocean-going ships that dock at US ports every day.

We have had more than a few unhappy customers when we tell them that their shipment is delayed.

It is unfortunate that a time of high demand for agricultural products, the main limitation is freight.

SEOUL (Reuters) - South Korea on Friday agreed to open up to U.S. beef imports after Washington pledged to raise safety standards, boosting prospects for a sweeping trade deal ahead of a summit between leaders of the allies later in the day.

It removes a big obstacle to U.S. congressional approval of the trade deal, the biggest since the North American Free Trade Agreement went into force in 1994, and should brighten the atmosphere as leaders prepare to discuss North Korea's nuclear ambitions, trade and military cooperation.

South Korea's farm ministry said in a statement that imports of U.S. beef will be expanded gradually and it would allow in bone-in beef from cattle under 30 months as a first step.

Beef from cattle older than 30 months can come in once U.S. safety standards are improved.

Once the third-largest import market for U.S. beef, South Korea imposed a blanket ban on American imports in 2003 following an outbreak of mad cow disease in the United States. It later eased the ban by allowing imports of boneless beef from cattle younger than 30 months.

The agreement comes just hours before South Korean President Lee Myung-bak, in the United States on his first overseas trip since taking office in February, meets U.S. President George W. Bush at the Camp David presidential retreat.

Thanks,  Kirk for sending me this article.

 Commodities  |  International Trade  |  Livestock  | Comments (1)
Eric J Lohry,  Sioux City Office   April 18th, 2008 11:50:41 PM

Cartoon by Dave Walker. Find more cartoons you can freely re-use on your blog at We Blog Cartoons.

Associated Press

April 8, 2008 at 4:43 AM EDT

WELLINGTON, NEW ZEALAND - The price of beer is likely to rise in coming decades because climate change will hamper the production of a key grain needed for the brew  - especially in Australia, a scientist warned Tuesday.

Jim Salinger, a climate scientist at New Zealand's National Institute of Water and Atmospheric Research, said climate change likely will cause a decline in the production of malting barley in parts of New Zealand and Australia. Malting barley is a key ingredient of beer.

"It will mean either there will be pubs without beer or the cost of beer will go up," Mr. Salinger told the Institute of Brewing and Distilling convention.

Similar effects could be expected worldwide, but Mr. Salinger spoke only of the effects on Australia and New Zealand. He said climate change could cause a drop in beer production within 30 years, especially in parts of Australia, as dry areas become drier and water shortages worsen.