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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...
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...
WH Group Announces Q3 2018 Results
Hong Kong – WH Group Limited, the world’s largest pork company, today announced the unaudited consolidated results of the Company and its subsidiaries for the ninemonths ended September 30, 2018.
As the largest pork company in the world, WH Group’s business is closely tied with the hog industry in each market that the Company operates. Supply and demand drive the movement in prices of hogs and meat, and consequently impacts...
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