Trans-Pacific Partnership Talks Looking to Wrap Up; Price of Meat Remains Unchanged

Following what the L.A. Times called a disappointing round of talks in Hawaii, negotiators for the 12 nations included in the Trans-Pacific Partnership are still hoping to wrap the trade deal up sometime this month. It's almost certain now that a deal won't reach Congress for a vote until next year, in the thick of the presidential campaign. Under fast-track legislation, the president first has to notify Congress 90 days before signing a final trade agreement. So if negotiators could complete the trade deal at the end of August, the public would see the agreement after 30 days and Obama could sign it as early as the end of November.

A recent report by the Food and Agriculture Organization found overall prices of meat remained unchanged in July, but demand for Australian beef moved higher. The meat index price average 174.1 points in July, nearly unchanged from June. International prices of beef moved up, offsetting a decline for pork and sheep meat while poultry prices remained stable. Prices of beef from Australia, in particular, rose, supported by stronger import demand from the United States, Japan and the Republic of Korea, among others.