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U.S. Pork Producers Seek Main Course, Not Crumbs
Expanding U.S. export markets is vital to the success of American pork producers, but trade disputes with some of our top markets, most notably China, are hampering growth and have caused severe financial harm to U.S. hog farmers, National Pork Producers Council Vice President and Counsel of Global Government Affairs Nick Giordano said today at a Global Business Dialogue event in Washington, D.C.
“Mostly because of free trade agreements, the United States is the leading global exporter of pork. As a result, U.S. pork is an attractive candidate for trade retaliation. America’s hog farmers – and many other sectors of U.S. agriculture...
African Swine Fever Affects China's Pork Consumption
China’s pork consumption has dropped by 10% to 15%, year-to-date, by our estimates, driven by food safety concerns. The level of consumption change varies greatly between the different distribution channels. Looking forward, and reflecting on the current situation and trends, it is quite possible we have seen the ‘peak’ of pork consumption.
Pork Consumption in China has Dropped by 10% to 15%
The losses in China’s pig herd are very difficult to estimate – estimated losses range from 20% to 70%. Data from the Chinese Ministry of Agriculture and Rural Affairs (MARA) has the sow herd down by 22% in the year to April – this is one of the most optimistic estimates we have seen. However, hog and pork prices struggled in April and May, after a brief surge in March, raising significant questions...
Beef Quarterly Q2 2019: Changing of the Guard in the Beef Trimmings Market
The world’s largest beef importer, China, is at the centre of growth in beef trade in general, and trimmings trade specifically. Many of the cuts imported by China have been to satisfy the local cuisine. But as diets and foodservice change, this now includes a growing trend in trimmings trade.
The growing demand for trimmings from Asian countries will create additional competition for the US but it is not expected to shift the market yet. Suppliers of trimmings into the global market should be conscious of possible changes in the trade. While steady growth is evident in the Chinese market to date, a short-term demand increase across all proteins as a result of African Swine Fever will likely cause a spike in demand for trimmings...
Senators Raise Concerns that USDA Trade Aid will Continue to Benefit Foreign Corporations
Nine U.S. Senators, led by Debbie Stabenow (D-Mich.), Ranking Member of the U.S. Senate Committee on Agriculture, Nutrition, & Forestry, today raised concerns that the U.S. Department of Agriculture (USDA) will continue to allow foreign companies to profit from the Trump Administration’s plan to assist American farmers affected by their trade policies.
Last week, the Administration announced it would provide up to $1.4 billion to purchase commodities targeted by retaliatory tariffs. In the previous round of aid, lucrative purchasing contracts were awarded to several foreign entities, including nearly $62.5 million in pork products from JBS USA, which is owned by Brazilian parent company JBS SA.
“…It is counterproductive and contradictory for these companies to receive assistance paid for with U.S. taxpayer dollars intended to help American farmers struggling with this Administration’s trade policy,” the Senators wrote...
China Says Making Progress on African Swine Fever Vaccine
China will start work on clinical trials of an African swine fever vaccine, state media said on Friday, as the disease continues to spread through the world’s biggest hog herd.
State-owned Harbin Veterinary Research Institute has found two vaccine candidates, proven in laboratory tests to offer immunity to the disease, China National Radio said in a post on China’s microblogging site Weibo.
“In the next step, the Chinese Academy of Agricultural Sciences will accelerate the progress of pilot and clinical trials, as well as vaccine production,” said the report...
USDA Announces Support for Farmers Impacted by Unjustified Retaliation and Trade Disruption
U.S. Secretary of Agriculture Sonny Perdue today announced that the U.S. Department of Agriculture (USDA) will take several actions to assist farmers in response to trade damage from unjustified retaliation and trade disruption. President Trump directed Secretary Perdue to craft a relief strategy to support American agricultural producers while the Administration continues to work on free, fair, and reciprocal trade deals to open more markets in the long run to help American farmers compete globally. Specifically, the President has authorized USDA to provide up to $16 billion in programs, which is in line with the estimated impacts of unjustified retaliatory tariffs on U.S. agricultural goods and other trade disruptions. These programs will assist agricultural producers while President Trump works to address long-standing...
Latest Tariff List is ‘Far too Great a Gamble for the U.S. Economy,’ says NRF
The National Retail Federation issued the following statement from President and CEO Matthew Shay after the Trump administration released a list of $300 billion of Chinese goods that will be targeted by additional tariffs of 25 percent.
“We support the administration’s efforts to deliver a meaningful trade agreement that levels the playing field for American businesses and workers. But the latest tariff escalation is far too great a gamble for the U.S. economy. Slapping tariffs on everything U.S. companies import from China – goods that support U.S. manufacturing and provide consumers with affordable products – will jeopardize American jobs and increase costs for consumers.
“Taxing Americans on everyday products like clothes and shoes is not the answer for holding China accountable. Working with our allies who share the same concerns and immediately rejoining TPP are more effective ways to put pressure on China without...
NPPC Statement on Planned Trade Relief Package
The Trump administration today indicated it is planning a trade relief package in response to the U.S. trade dispute with China. The following statement may be attributed to David Herring, a pork producer from Lillington, North Carolina and president of the National Pork Producers Council:
“U.S. pork has suffered from a disproportionate share of retaliation due to trade disputes with Mexico and China. This retaliation turned last year — which analysts had forecast to be profitable — into a very unprofitable time for U.S. pork producers. The financial pain continues...
Retail Imports Rising Ahead of Expected Higher Tariffs
With retail sales rising and President Trump saying he plans to both increase and broaden tariffs on goods from China, imports at the nation’s major retail container ports are expected to see unusually high levels the remainder of this spring and through the summer, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Much of this is driven by consumer demand but retailers are likely to resume stocking up merchandise before new tariffs can take effect,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Tariff increases and new tariffs will mean higher costs for U.S. businesses, higher prices for American consumers and lost jobs for many American workers. We encourage the administration to stay focused on a trade agreement, and...
Tyson says Hog Disease Impact to Linger for Years
Global meat prices are poised to rise after China culled tens of millions of hogs to contain a fast-spreading swine disease, the chief executive of Tyson Foods Inc. said.
The top U.S. meat processing company already is paying higher prices for U.S. hogs and other meat as Chinese buyers crank up purchases, Tyson executives said Monday. In the months ahead, Tyson anticipates higher meat costs for consumers, as well as stronger profits in its own pork, beef and chicken-processing operations.
Noel White, CEO of the Arkansas-based company, said the potential impact of the past year's African swine fever outbreaks was unprecedented, and could lower global meat supplies by 5% at a time when protein consumption is on the rise world-wide...
Retailers Respond to Administration’s Threat to Raise Tariffs
The National Retail Federation issued the following statement from Senior Vice President for Government Relations David French in response to the President’s threat to raise tariffs on $200 billion of Chinese goods from 10 to 25 percent.
“Tariffs are taxes paid by American businesses and consumers, not by China. A sudden tariff increase with less than a week’s notice would severely disrupt U.S. businesses, especially small companies that have limited resources to mitigate the impact. If the administration follows through on this threat, American consumers will face higher prices and U.S. jobs will be lost.
“We want to see meaningful changes in China’s trade practices, but it makes no sense to punish Americans as a negotiating tactic. If the administration wants to put more pressure on China...
UB Executive Conference: Dr. David Kohl Engages on Economics and Trends to Monitor
Day two of the 2019 Executive Conference is here. Attendees can’t stop raving about last night’s posh cocktail reception at Hyde nightclub at the Bellagio in Las Vegas. With spectacular views of the Strip overlooking the pristine Bellagio fountains, attendees enjoyed premium cocktails and an impressive display of food while networking with fellow industry executives. And now, today’s agenda is packed with exclusive content and insight from a hard-hitting lineup of speakers.
After a filling breakfast this morning, the day kicked off with our first speaker, Dr. David Kohl, Professor Emeritus, Agricultural and Applied Economics, College of Agriculture and Life Sciences at Virginia Tech.
Dr. Kohl had the undivided attention of the audience as he brought us all back to our college days with his engaging lecture on the economic situation and what it means for agribusinesses now and in the future. Complex in nature, Dr. Kohl managed to...
Cargill Strengthens China Commitment with $112m New Investment in Jilin
Cargill announced today that it will invest US$112 million to expand the capacity of its corn processing facility in Songyuan of Jilin province. This is part of its joint initiative with Songyuan government to build the Sino-US Cargill Biotech Industrial Park, featuring the Cargill Food Safety and Technology Center. Cargill will continue to invest in the park in the coming years. The move is expected to help boost local economy and strengthens local corn processing industry.
“Cargill has made significant investments in Songyuan, which is welcomed by us,” said Mr. Wang Zilian, mayor of Songyuan Municipal Government. “I believe the new investment and projects will help boost the prosperity of local farmers and also benefit the growth of local corn processing industry.”
The park, which occupies 3.71 million square meters, is designed to facilitate both corn processing and trading, with a processing capability of up to two million tons per year by...
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