The Rate of Ethanol Production to Increase; Over-regulation Greatest Threat to Cattle Producers
Ethanol companies last week received a boost when the Federal regulators proposed to raise the amount of ethanol that refineries must blend into US gasoline. The Environmental Protection Agency is behind the proposal that is unpopular with oil companies as the Agency wants to require refineries to blend nearly 19 billion gallons of corn based ethanol and other bio-fuels into US gas in 2017.
Tuesday National Cattlemen’s Beef Association President Tracy Brunner testified before the House Agriculture Subcommittee on Livestock and Foreign Agriculture. Brunner, a fourth generation rancher and cattle feeder from the Flint Hills area of Kansas, stressed to the subcommittee that over-regulation poses the greatest threat to the profitability of cattle producers saying subcommittee to help in easing the regulatory burdens faced by the industry by taking action to reform the Endangered Species Act, leveling the playing field for beef exports by passing the Trans-Pacific Partnership, and helping us keep EPA at bay saying this would go a long way in easing the pressures on our industry.” Reuters reports: Monsanto Co. will reject Bayer AG's $62 billion acquisition bid and seek a higher price.