USDA this week finalized a rule updating its “Product of USA” labeling claims for meat and poultry products.

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In a letter sent this week to U.S. Trade Representative Katherine Tai and Agriculture Secretary Tom Vilsack, 22 Republican senators ask what specific actions the Biden administration plans to take this year to increase U.S. agricultural exports. The letter cited data from the last fiscal year (FY), which shows that U.S. agricultural exports declined by more than $17 billion, and recent forecasts show a further decline of more than $8 billion in FY 2024.

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Representative Ken Buck (CO-4) this week announced he plans to retire from Congress on March 22.

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USDA’s March 2024 World Agricultural Supply and Demand Estimates (WASDE) report showed that broiler production forecasts were raised from last month due to higher broiler production.

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The Consumer Price Index (CPI) increased 0.4 percent in February after rising 0.3 percent in January. Over the last 12 months, the “all items” index increased 3.2 percent before seasonal adjustment. The Federal Reserve has a targeted annual inflation rate of two percent.

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Several NCC member companies this week received awards, made charitable donations, and announced expansions.

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Most U.S. consumers surveyed in February 2024 predicted that food prices would increase over the next 12 months. Sixty-four percent of respondents predict food prices will rise in the next year, and the average predicted increase is 3.7 percent, according to the February Consumer Food Insights Report.

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U.S. total broiler slaughter data for the week ending March 16, 2024, is estimated by USDA’s Poultry Market News Service to be 162,916,000 broilers, a 1-percent decrease from the same week a year earlier.

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