October 12, 2018

Today's News Summary:

Headlining our news today, Singapore and Vietnam are two developing markets that represent huge opportunities for U.S. pork export growth. A recent trade mission to Asia by the National Pork Board International Marketing Committee built lasting relationships with international customers and elevated U.S. pork as the global protein of choice. The Pork Checkoff team toured Singapore, Vietnam, Hong Kong and Macau, meeting with pork processors, distributors and retailers, importers and traders, as well as in-country staff responsible for promoting U.S. pork in the region.

China's vast export engine unexpectedly kicked into higher gear in September, producing a record trade surplus with the United States that could exacerbate the already-heated dispute between Beijing and Washington. Analysts said last month's strong export growth - which might indicate U.S. tariffs are not biting much yet - is unlikely to be sustained. September exports rose 14.5 percent from a year earlier, the fastest pace since February, and was well above August's 9.8 percent and a Reuters poll forecast of 8.9 percent.

Vice President Mike Pence and U.S. Secretary of Agriculture Sonny Perdue were briefed today on the potential impacts of Hurricane Michael as it relates to agriculture and rural communities in the stormís path. Secretary Perdue said he is proud of the work being done by the USDA family as they continue to assist during Hurricane Michael, and his team will continue to be there for farmers, ranchers, and those affected to get them the aid they need.

With the recent signing of the new North American trade deal, known as the USMCA, those dealing in chicken exports are eager to know what role this new agreement will play in the export arena. The latest analysis from Urner Barry provides an inside look at Canada and Mexico's role in the chicken export markets. Read the full analysis here.

Finally, This Week in Retail looks at the latest CPI data and the growing spread between retail and foodservice costs. But while food at home is currently cheaper, food away from home tends to be steadier and less reactive to price changes in the market. Learn more here.

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