Bill Brooks News
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The U.S. Department of Agriculture said it will halt some government reports including milk production, rice supply and cattle herds because of federal spending cuts known as sequestration.
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MetLife Inc. , the largest U.S. life insurer, has purchased a business providing group legal-services coverage from Allstate Corp. , adding to its Hyatt Legal Plans business.
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U.S. milk production is headed for the biggest contraction in 12 years as a drought-fueled surge in feed costs drives more cows to slaughter.
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U.S. milk production increased 2.4 percent in June as a rise in per-cow output more than made up for a smaller dairy herd, according to the Department of Agriculture.
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Record dairy profits and milder weather are leading to a surge in milk supplies from Auckland to California, turning last year’s best-performing commodity contract into one of the worst of 2012.
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U.S. milk output increased 1.3 percent in May, the Department of Agriculture said, as climbing prices spurred farmers to increase productivity.
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U.S. cheddar-cheese prices plunged the most since December 2008 as grocers slowed purchases after stockpiling most of what they will need for the year-end holidays.
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U.S. milk production climbed 2 percent in February as rising prices spurred dairy farmers to increase herds and boost per-cow output, according to the Department of Agriculture.
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U.S. milk production rose 1.5 percent in April, the Department of Agriculture said, as higher prices pushed farmers to increase herds and boost per-cow output.
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