Official Sees No Quick End to Japan’s Beef Ban

Japan doesn’t expect to lift its 3-month-old mad-cow-related embargo on U.S. beef anytime soon, but will continue discussions with Washington to find a solution, an official said.

Japan halted imports after a Holstein in the state of Washington was found in December to have mad cow disease. The country had been the world’s largest foreign buyer of U.S. beef, importing about $1 billion worth a year.

From Associated Press

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* Swift & Co., the third-largest U.S. beef producer, had a net loss of $40.7 million in its fiscal third quarter after deducting costs related to bans on imports of U.S. beef exports because of mad-cow fears. The loss in the quarter ended Feb. 22 contrasted with net income of $3.5 million a year earlier.