Eight cattle, chicken groups oppose USDA loan guarantees for troubled ethanol plants

In Washington, the American Meat Institute, National Chicken Council, National Cattlemen’s Beef Association and five other groups wrote Agriculture Secretary Ed Schafer to oppose federally guaranteed loans to ethanol makers facing losses because of the crash in corn and ethanol prices. The USDA denied that the proposed assistance is a bailout for ethanol, saying that any rural businesses that meet certain requirements are eligible for up to $25 million in loan guarantees.

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