COVID-related shutdowns and slowdowns at meatpacking plants pushed beef exports for May below last year’s levels and pork exports to their lowest level since October, according to data collected by the United States Meat Export Federation (USMEF).
The Senate Agriculture Committee will hold a landmark hearing this week on a bipartisan plan to accelerate the development of agricultural carbon markets, and the panel also is set to act on a measure to reauthorize federal grain standards and export inspections.
Chinese importers closed contracts to buy 720,000 metric tons of U.S. soybeans – most of it for new crop – according to a USDA announcement Thursday, signaling the country is calculating the growing tightness of Brazilian supplies and locking in deliveries past September.
President Donald Trump’s suggestion Tuesday that he would be willing to terminate trade deals that permit cattle imports left some aghast at the apparent threat to trade with Canada and Mexico, but U.S. Cattlemen’s Association President Brooke Miller says he’s pleased.
The “phase one” trade deal with China is paying off substantially for commodities like soybeans, corn, wheat and sorghum, but it’s hit or miss for specialty crop farmers, many of whom are still trying to find replacement markets.
President Donald Trump says the United States should look into ending trade deal provisions that allow for the imports of live cattle into the country, a remark that will surely catch the attention of North American trading partners.
USDA reports released Thursday show China has purchased another 1,400 metric tons of U.S. beef and 272,000 tons of U.S. soybeans, demonstrating importers are successfully getting exemptions to the country’s tariffs.
U.S. Trade Representative Robert Lighthizer is making it clear to Brazil that the U.S. is serious about strengthening trade and economic ties between the two countries whose leaders appear to be fond of each other.