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Gold/Mining/Energy : Precious and Base Metal Investing

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To: E. Charters who wrote (25920)12/23/2003 7:51:57 PM
From: Rocket Red  Read Replies (1) of 39344
 
Mad Cow Discovered in Washington State, Veneman Says (Update2)
Dec. 23 (Bloomberg) -- A cow in Washington state has tested positive for mad cow disease, U.S. Agriculture Secretary Ann Veneman said. If confirmed, it would be the first case of the disease in the U.S. and a blow to the $100 billion U.S. livestock industry.

A sample from the cow will be sent to the U.K. for confirmation, and the farm where the suspected case was found has been quarantined, Veneman told reporters in Washington, D.C. It will take three to five days to get the test results, she said.

``Despite this finding we remain confident of our food supply,'' Veneman said. She said she plans to serve beef for Christmas.

Meat from the cow was sent to processing plants, Veneman said. Tissue where the disease is believed to reside such as the brain and spinal cord didn't enter the food supply, she said.

Shares of McDonald's Corp., the world's largest hamburger restaurant chain, fell in U.S. trading after the announcement. McDonald's lost 67 cents, or 2.7 percent, to $24.61. Tyson Foods Inc., the world's largest meat processor, fell 18 cents to $13.80.

``I'm still in shock,'' said Gayland Pedhirney, president of Washington Beef LLC in Yakima, Washington, that processes about 300,000 cows a year. ``Hopefully common sense will prevail and people will wait and see before making any kind of decisions.''

Canadian Case

About 9,600 family farms and ranches in Washington produced 1.13 million head of cattle in 2001, according to the state Agriculture Department.

Canada and Mexico have been informed of the development and neither nation has taken any action, said Ron Dehaven, the department's chief veterinarian.

The U.S. banned imports of Canadian cattle in May after a case of mad cow disease was confirmed in Alberta. The U.S. Agriculture Department has proposed lifting that ban, possibly early in 2004.

Last Updated: December 23, 2003 18:51 EST
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