Tyson Foods Inc. delivered a mixed bag of quarterly results while retaining an upbeat global meat outlook based on China’s efforts to fill a protein gap because of African swine fever and easing trade tensions.
Over the last few years, cattle and hog inventories have continued to rise in addition to record meat and chicken production. Warren Preston, Deputy Chief Economist at USDA, shares his thoughts on what's ahead for 2020.
USMEF submitted comments identifying barriers that inhibit U.S. red meat exports to Kenya, which are explained in more detail by Cheyenne McEndaffer, USMEF director of export services, in the audio clip below.
USMEF President and CEO Dan Halstrom explains that when implemented, USMCA will solidify trade relations in North America and preserve duty-free access to Canada and Mexico for U.S. pork, beef and lamb.
Meat packer JBS USA says it will remove ractopamine, a growth drug banned by Beijing, from its U.S. hog supply, to maximize export opportunities as African swine fever (ASF) wreaks havoc on China’s pork industry.
Chicago Mercantile Exchange live cattle futures on Friday drew pressure from funds that sold, or "rolled," June positions into back months before similar moves lasting five days beginning on Monday, said traders.
The U.S. red meat industry is optimistic about the opportunities ahead for U.S. pork and beef in Japan. Trump and Abe's announcement puts the U.S. on an even playing field with its competitors, Halstrom says.