China is reaching out to processors of meat, seafood and other food around the globe, asking them to provide proof of “mitigation efforts” to keep facilities free of COVID-19, industry and government sources tell Agri-Pulse.
Farm earnings are likely to fall sharply this year despite the $16 billion in COVID-19 assistance payments now being distributed, and farmers’ income is likely to drop again in 2021 without additional government aid, according to a widely followed forecast of the agricultural economy.
As the spread of COVID-19 in April slowed meat processing facilities and important Latin American trading partners lost purchasing power, U.S. beef exports fell below last year's totals and pork exports grew at a slower rate than in the first quarter.
China is shunning U.S. soybeans and pork – at least temporarily – in retaliation to U.S. involvement in China’s treatment of Hong Kong, but expectations are that Chinese state buyers won’t be able to shut off U.S. trade for much longer.
Ag trade experts are working to assess how President Donald Trump's call for an end to preferential trade treatment for Hong Kong will impact American ag exports there, but say there appears to be no direct impact on the "phase one" trade deal with China.
Cattle, dairy and hog producers as well as corn and soybean growers are expected to collect the largest shares of USDA’s $16 billion in coronavirus relief payments, which are designed to compensate for losses in sales or market value between January and April.