The Fourth of July holiday weekend won't be plagued by a case of bovine spongiform encephalopathy (BSE) as Christmas was for many in 2003. Friday afternoon USDA officials announced that the inconclusive rapid test result reported on June 29 was a confirmed false positive.
Deputy Administrator John Clifford of the Animal and Plant Health Inspection Service (APHIS) released a statement saying an immunohistochemistry test was negative for BSE upon confirmatory testing. USDA's National Veterinary Services Laboratories (NVSL) in Ames, Iowa conducted the test on the inconclusive screening test sample.
Marketing and Management Editor Arlan Suderman predicts that the announcement should allow prices to bounce back on Tuesday, but traders will be more apprehensive about building long (bought) positions in the cattle market. "The recent announcements have heightened their awareness of the possibility of another case of mad cow disease," he says.