http://www.usatoday.com/money/industries/food/story/2011-09-18/corn-prices-ethanol-mandate/50417146/1
And it's bad for our engines
Producers told the House Agriculture Committee on
Wednesday that tightening grain supplies are driving up feed costs
further and threatening to push many poultry farms and others out of
business.
"We have serious, immediate concerns
about the availability and cost of feed ingredients caused by the
mandated use of corn-based ethanol," said Ted Seger, president of
Farbest Foods Inc., a turkey producer in Indiana.
than 20 percent of the chicken industry, as measured by production, has
been sold to foreign-owned companies because of bankruptcies in the
U.S. industry over the last three years, he said.
The Agriculture Department
this week estimated that farmers will harvest 12.5 billion bushels of
corn this year, the third-largest crop on record, but that was 3 percent
less than the USDA had forecast a month earlier.
With
corn supplies tightening, the USDA also estimated usage for feed would
be reduced. About 4.7 billion bushels of this year's crop is expected to
be used for livestock feed, down from 5 billion bushels for the 2010
harvest.
And it's bad for our engines
Producers told the House Agriculture Committee on
Wednesday that tightening grain supplies are driving up feed costs
further and threatening to push many poultry farms and others out of
business.
"We have serious, immediate concerns
about the availability and cost of feed ingredients caused by the
mandated use of corn-based ethanol," said Ted Seger, president of
Farbest Foods Inc., a turkey producer in Indiana.
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than 20 percent of the chicken industry, as measured by production, has
been sold to foreign-owned companies because of bankruptcies in the
U.S. industry over the last three years, he said.
The Agriculture Department
this week estimated that farmers will harvest 12.5 billion bushels of
corn this year, the third-largest crop on record, but that was 3 percent
less than the USDA had forecast a month earlier.
With
corn supplies tightening, the USDA also estimated usage for feed would
be reduced. About 4.7 billion bushels of this year's crop is expected to
be used for livestock feed, down from 5 billion bushels for the 2010
harvest.