Trade
Congress got a clearer view of President Biden’s trade agenda this week as the Senate Finance Committee questioned Katherine Tai, Biden’s nominee to serve as the United States Trade Representative.
Biden’s USTR nominee was a key player in the USMCA negotiations, and some think USMCA may be a template for future trade talks, including the possibility of rejoining the Trans-Pacific Partnership (TPP).
Trade seems to be taking a back seat in Washington. From COVID-19 recovery to a focus on climate, other issues are taking priority in the new White House. That’s not stopping ag groups from pushing for key trade deals.
Even though official numbers won’t be released until early next week, U.S. Meat Export Federation says a promising finish to beef exports in 2020 could set the stage for record shipments in 2021.
Whether it’s to fulfill Phase One promised, or an increased need for feed, some say the timing of the record Chinese buys isn’t a coincidence. So, what’s driving the record demand from China?
During U.S. Treasury Secretary Janet Yellen’s confirmation hearing in January, Yellen previewed how the Biden administration may address trade issues with China.
As African swine fever leaves China with a formidable protein gap, Brazilian meat producers have been rewarded with a boom in shipments. Now, that demand burst could start spreading into the U.S.
U.S. beef exports continue to remain strong, according to USMEF. The Federation released its year-end numbers on 2019 export sales last week, and it says beef exports are down slightly from the record year of 2018.
America’s agricultural economy is bracing for yet another hit as Tropical Storm Barry barrels toward Louisiana, with grain elevators, cotton fields and cane crops in its projected path.
Mexico becomes the first country to approve the U.S.-Mexico-Canada Free Trade Agreement.
Even though exports are strong, industry leaders say there seems to be a misconception about the U.S. importing beef, saying imports are not behind lower prices.
Trade-focused presidential order fulfills campaign pledge.
As the Obama administration starts to wind down its tenure in Washington, it’s taking up a fight on behalf of U.S. beef producers.
The latest beef and cattle trade data shows a mixed bag of global market impacts. Total beef exports were down 5.3 percent in April compared to last year.
April exports of U.S. beef and pork were lower than a year ago while U.S. lamb exports continued their upward trend, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Japan on Friday lifted longstanding restrictions on U.S. beef in an agreement announced by USDA Secretary Sonny Perdue. The move is expected to pave the way for expanded sales to the U.S.’s top beef export market.
Rabo AgriFinance says the live cattle and feeder cattle markets are out of balance right now; a sign that lower feeder cattle prices could be on the horizon.
China’s beef imports jump almost 80%, beating pork purchases. Beef imports this year are on course for a record amount
Based on past history and international agreements, this atypical case should not affect beef exports or our negligible-risk status with the World Organization for Animal Health (OIE).
Possibly more important than products on the tariff lists, are what’s left off of them.
Cattle and beef prices in 2017 were much stronger than anticipated. One of the reasons for price strength was international trade.
China has suspended imports from an OK Foods poultry plant in Fort Smith, Arkansas, because of coronavirus cases among workers, the USA Poultry & Egg Export Council said on Tuesday.
Additional cattle are continuing to come to feedyards, but fortunately there’s been several market factors at play to help offset beef supplies, at least for now, said Craig VanDyke, Top Third Ag Marketing.
Cattle markets finding strong fundamental reasons to remain positive despite the threat of disruption from trade negotiations.
Rabo AgriFinance says the live cattle and feeder cattle markets are out of balance right now; a sign that lower feeder cattle prices could be on the horizon.
President Donald Trump remains in U.S. farmers’ good graces, according to the latest Farm Journal Pulse survey.
China made its largest weekly U.S. beef purchases on record last week, followed by its biggest U.S. corn deals in almost a month this week, according to U.S. Department of Agriculture data released on Thursday.
Exports accounted for 13.7 percent of total beef production in September, reports U.S. Meat Export Federation.
May beef exports were steady year-over-year in volume, while export value increased 1% to $727.6 million – the second-highest on record.
“There’s no other market that can absorb the beef volume and the value of what we’re selling into Japan,” said Kent Bacus, NCBA director of trade and market access. “We have level the playing field.”