The Department of Agriculture expects U.S. farm exports to hit a record $157 billion for fiscal 2021, an increase of $21 billion over the year before, as the global economy recovers and China increases its already strong demand for U.S. corn, soybeans and meat.
European farmers and ranchers offered their support as the EU signed pacts with Mexico, Japan, Singapore and South Korea, but they are raising alarms now over a massive deal with four South American countries that make up the Mercosur trade bloc.
A survey of more than 3,000 American consumers shows beef is currently chosen about three times more often than plant-based alternatives. But while the plant-based presence in the market remains small, it is growing.
Exports of U.S. beef and pork both experienced a strong finish to the calendar year in December, besting 2019 figures and offering insights into consumer trends around the world and what is yet to come in the new year.
U.S. beef exports to Japan have been very good in recent months — maybe too good. The Japanese have imported so much U.S. beef, it’s looking like they will hit a “safeguard trigger” designed to protect domestic producers with a tariff.
Lawmakers can now turn their eyes toward next Wednesday when Joe Biden will be inaugurated as president after Donald Trump was impeached by the House for a second time. The Senate won’t take up the impeachment before Trump leaves office.