From drought issues posing problems in the Panama Canal to growing tensions and attacks in the Red Sea, it's causing freight rates to skyrocket and ongoing delays in shipping products around the globe.
America’s largest foreign beef customer is shifting to other suppliers as new free trade agreements have created vast blocs excluding the U.S., offering lower tariffs on agricultural and industrial goods.
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.
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.
Much of the trade focus has been on China. However, the United States agricultural industry could be at a significant tariff disadvantage starting April 1 and it has nothing to do with China.
Last year U.S. beef exports shattered the previous value record and achieved a new high for volume, according to year-end 2018 statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Beef producing countries like Australia, Canada, New Zealand and Mexico are gaining greater access into Japan thanks to lowered tariffs, giving those exporters a significant advantage over U.S. beef producers.
Beef exports totaled 112,842 metric tons (mt) in November, up 1% from a year ago, while value climbed 6% to $709.2 million. At $7.63 billion, beef export value was up 16% and has broken the full-year record set in 2017.
The U.S. Meat Export Federation (USMEF) hasn’t released its November numbers past October due to the government shutdown. If they’re anything like October’s numbers, then they could be record-shattering.
The U.S. Meat Export Federation (USMEF) hasn’t released its November numbers past October due to the government shutdown. If they’re anything like October’s numbers, then they could be record-shattering.
“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."
Beef exports remained on record pace in October, and talks with Japan are just beginning. Japan is the largest value destination for both U.S. beef and pork but the market is intensely competitive.
U.S. beef exports remained on a record-shattering value pace in October, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Officials in Argentina say they are close to signing an agreement with the U.S. that would allow two-way trade of fresh beef for the first time in nearly two decades.
In separate interviews with AgriTalk representatives from two major beef industry organizations discussed major trade deals that have been negotiated recently.
British consumers are warned their government may alter food safety regulations after Brexit, allowing U.S. and Canadian beef treated with hormones to enter the food supply.
Led by South Korea, Japan, Taiwan and Latin America markets, July beef exports climbed 12% in volume to 116,575 mt, valued at $722 million – up 16% from a year ago and just slightly below the May 2018 record.
Total beef consumption in China in 2018 is estimated at 8.5 million metric tons, second only to the U.S., according to the USDA Foreign Agricultural Service.
Policy news grabbed the headlines yesterday, as USDA Secretary Sonny Perdue announced a $12 billion relief package for farmers impacted by tariffs. Beef leaders say they look forward to reviewing the details.
U.S. beef exports set a new value record in May while also increasing significantly year-over-year in volume, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
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.
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.
Making sure that beef is has a seat at trade negotiations tables has been a focus of the National Cattlemen’s Beef Association (NCBA), along with labeling of “fake meat.”
Ireland will become the first European Union country to gain access to China’s fast-growing beef market after its agriculture minister said on Monday that Beijing had approved imports from three Irish processors.
U.S. President Donald Trump said he thinks a conversation he had with China’s President Xi Jinping has had an impact on U.S. beef exports to China, where American exporters are now selling “a lot” of beef.