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Rabobank Pork Quarterly Q1 2020: Opportunities Are Emerging from Risks
Rising disease pressures continue to challenge the global market and will remain the major change driver in global animal protein in 2020, according to Rabobank’s latest Pork Quarterly titled ‘Opportunities Are Emerging from Risks.’
“Although the severity of African swine fever’s (ASF) impact is subdued in some regions, the scope of the disease has expanded over recent months,” according to Chenjun Pan, Senior Animal Protein Analyst. “The ramifications in 2020 will lead to continuous caution on production expansion in some regions and higher import demand on the global balance sheet.” Several ongoing, regional trade-deal discussions will...
Retailers Welcome Phase One Trade Deal with China but Say Remaining Tariffs Must End
The National Retail Federation welcomed the signing of a “phase one” trade agreement between the United States and China but said work remains to be done to end the trade war between the two countries.
“NRF strongly supports the administration’s efforts to address China’s unfair trading practices but we hope this is the first step toward eliminating all of the tariffs imposed over the past two years,” NRF President and CEO Matthew Shay said. “The trade war won’t be over until all of these tariffs are gone. We are glad to see...
What the Trade Agreement with China Means for the Meat and Poultry Industry
The Phase One economic and trade agreement signed by the United States and China on January 15, 2020, will provide U.S. exporters of beef, pork, and poultry, as well as live breeding cattle with expanded access to China’s rapidly growing market.
Market Overview: As incomes rise in China, demand for protein in diets increases as well. Chinese demand for imported beef, pork, and poultry is growing at a rapid rate, made more acute due to domestic pork supply constraints in China as a result of the ongoing outbreak of African swine fever. When China partially re-opened its market to U.S. beef and beef products in 2017, following a 13-year ban, many unscientific restrictions remained, including...
Industry Reacts to Phase One Trade Agreement with China
President Donald Trump signed a Phase One trade agreement with China today. The agreement says that China will increase purchases of U.S. manufacturing, energy, and agricultural goods and services by at least $200 billion over two years. As part of the deal, the Trump Administration scrapped tariffs initially set to take effect in December, and agreed to cut tariffs on $120 billion in products to 7.5%. However, tariffs on another $250 billion in Chinese goods will remain in place for now. Steven Mnuchin, Treasury Secretary, stated a second phase could include more tariff relief.
The National Cattlemen's Beef Association applauded the signing of the deal with China, saying the agreement will lay the groundwork for American-produced beef to be highly competitive in the world's most populous market. “The Phase One Agreement with China will be a game changer for the U.S. beef industry. For many years, Chinese consumers have been...
Retail Imports Settling Down After Year of Tariff Surges
After a year of fluctuations driven by the uncertainty of the trade war with China, volume at the nation’s major retail container ports is expected to return to its usual seasonal patterns during the first few months of 2020, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“We’ll be more confident after we see the Phase One agreement signed, but right now 2020 looks like it should be back to what used to be normal,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “We’ve been through a cycle of imports surging ahead of expected tariff increases – some of which got delayed, reduced or canceled – and falling off again afterward. That’s not good for retailers trying to manage...
U.S. Embassy in China Issues Warning to Travelers Over Mysterious Pneumonia Outbreak
The U.S. Embassy in China is urging travelers to Wuhan to be cautious.
As SeafoodNews reported earlier this week, Wuhan, the capital of Central China's Hubei province, is dealing with a mysterious outbreak of pneumonia linked to a seafood market. The first case of pneumonia was reported around December 12, 2019, and to date there have been 59 cases.
Since the outbreak, the seafood market in question, South China Seafood City, has been closed for environmental sanitation and disinfection. But while the Wuhan Municipal Health Commission has...
REPORTER: One Year Update on African Swine Fever
August marked the one-year anniversary of when the world became aware of the African Swine Fever outbreak in China. Just since this May, African Swine Fever has spread to...
USTR On Reports of Tariff Cuts in Exchange for Certain Purchases--"Utterly False"
Bob Davis and Lingling Wei at the Wall Street Journal, based on anonymous sources, have reported at least three times this week that the United States negotiators offered to cut by as much as one half the tariff rates on approximately $360 billion of Chinese imports in exchange for certain purchases.
While we do not comment on the content of negotiations, we have said publicly and on the record that this is totally false, untrue and baseless. It did not happen.
In addition and to be completely clear, we have personally, and on the record, told Mr. Davis and another Wall Street Journal reporter repeatedly that this is...
Retailers Call China Trade Announcement 'Right Direction' but Say a Final Deal is Needed
The National Retail Federation today welcomed news that the United States and China have agreed on a “phase one” trade deal.
“For the first time in months, the United States and China are moving in the right direction on tariffs, and we congratulate negotiators from both sides for the progress they have made,” NRF Senior Vice President for Government Relations David French said. “Tariffs create uncertainty and costs for American retail supply chains, and the trade war won’t be over until they are eliminated completely. We agree that we need to realign our relationship with China, but tariffs that harm...
NCBA Welcomes First Phase In U.S.-China Trade Deal
National Cattlemen’s Beef Association (NCBA) CEO Colin Woodall issued the following statement regarding today's announcement that the U.S. and China have agreed to a phase one trade deal:
“The announcement of a phase one deal with China is welcome news for the U.S. beef industry. While we wait to learn more about the details of the agreement, we are optimistic that this positive news will bring long lasting relief to farmers and ranchers who have been targeted with China’s retaliatory tariffs for many months.” said Woodall. “While tariffs grab most of the headlines, China’s unjustifiable...
Retailers Say Extending Trade War Past 2020 Elections Would Be ‘Bad Deal’ for U.S. Economy
The National Retail Federation today issued the following statement from Senior Vice President for Government Relations David French in response to President Trump’s comments that he might wait until after the 2020 elections to reach a trade agreement with China:
“We want and need to see a deal as soon as possible. The tariffs continue to hurt U.S. businesses, workers and consumers and are a substantial drag on the U.S. economy. Waiting another year to resolve the cost and uncertainty of the trade war is a bad deal not just for retailers and their customers but every segment of the economy from farmers who export their crops to...
Rabobank Beef Quarterly Q4 2019: Strong Demand to Test Supply in 2020
Beef will see a continuation of strong import demand from China in 2020, according to Rabobank’s Beef Quarterly for Q4 2019.
Strong demand will be the driving force in the global beef market in 2020, while beef production will experience slow growth.
“Although beef is not strictly a fungible product, demand and supply pressures will cause a redistribution of product among markets. Market participants will need to be vigilant for any...
U.S. Pork Can Reduce Overall U.S. Trade Deficit with China by Nearly Six Percent
Securing zero-tariff access to China for U.S. pork would be an economic boon for American agriculture and the country, according to the National Pork Producers Council (NPPC). Based on an analysis by Iowa State University (ISU) Economist Dermot Hayes, NPPC says unrestricted access to the Chinese chilled and frozen market would reduce the overall trade deficit with China by nearly six percent and generate 184,000 new U.S. jobs in the next decade. NPPC today launched a digital campaign to spotlight the importance of opening the Chinese market to U.S. pork as trade negotiations continue.
“Were it not for China’s tariffs that are severely limiting access to American goods and other restrictions, including customs clearance delays, U.S. pork could be an economic powerhouse, creating thousands of new jobs, expanding sales and dramatically slashing our nation’s trade deficit. China’s actions would...
FSIS Releases List of 172 Poultry Plants Approved to Export to China
Since China has announced it will lift its ban on imports of all U.S. poultry products, 172 U.S. poultry processing plants have been approved to export to China. The list of processing plants has been published on the U.S. Department of Agriculture Food Safety and Inspection Service portal. United States Trade Representative Robert Lighthizer stated that China is an important export market for America's poultry farmers, and estimates indicate that more than $1 billion worth of poultry and poultry products will be exported to China each year.
Find the complete list from the FSIS here...
ANALYSIS: All Eyes on the West
With China once again opening their door to US poultry imports, we thought it would be a great opportunity to take a step back to assess the performance of legs and leg quarters throughout the years...
Rabobank: Supply Slide Saves Grounded Demand
Agricultural commodities were heavily impacted by trade wars, African swine fever, and erratic weather in 2019. According to the RaboResearch report "Outlook 2020: Supply Slide Saves Grounded Demand," many of these factors will remain key for agri commodity prices in 2020.
In 2019, agri commodity markets were impacted by several unprecedented incidents and uncommonly severe conditions. China's hog herd declined significantly, as a result of African swine fever (ASF). This drastically weakened demand for feed and, combined with the US-China trade war, resulted in a significant slowdown in the global soybean trade.
Meanwhile, record US corn- and soybean-planting delays drove corn prices from three-year lows to six-year highs within a few weeks. Then, improved...
US and China Could Sign ‘Phase One’ Trade Deal Before Christmas, Pimco Predicts
A “phase one” trade deal between the U.S. and China could be finalized and signed before Christmas this year, according to an executive from bond investment giant Pimco.
Optimism that such an agreement could be reached between the two countries faded in recent days following reports that Washington and Beijing remained far apart on several issues. A Chinese government source told CNBC’s Eunice Yoon on Monday that China is troubled after U.S. President Donald Trump said he hasn’t agreed to roll back tariffs.
But John Studzinski, managing director and vice chairman of Pimco, said on Tuesday that he still thinks the two sides would...
Industry Reacts to EPA's WOTUS Rule
Kroger Shares Fresh Food Trends for 2020
Rabobank Pork Quarterly Q1 2020: Opportunities Are Emerging from Risks
Tyson Foods Initiates Coalition to Advance the Future of Sustainable Protein
African Poultry Sector Remains Strong Opportunity for Investors
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