IARN — President Donald Trump suggested “terminating” current trade deals allowing live cattle imports.
Our northern ally took notice, but does not seem too concerned.
U.S. Department of Agriculture (USDA) data indicates Canada exported 700,000 head of cattle to the United States in 2019. Cattle imports look to continue under the U.S.-Mexico-Canada Agreement (USMCA), which goes into effect on July 1, 2020. Dennis Laycraft, executive vice president of the Canadian Cattlemen’s Association, says the President’s remarks “caught our attention.” Read more
IARN — Officials in the Trump Administration are talking positively about China’s commitments in implementing the Phase One trade deal with the U.S. That’s even as the coronavirus outbreak that began in China is straining relations between the countries. The deal requires China to make their markets more open, as well as increase its purchases of U.S. farm goods, manufactured goods, as well as energy and services by $200 billion above 2017 levels in the next two years. U.S. Trade Representative Robert Lighthizer says China is working to expand access for U.S. producers. Read more
IARN — U.S. grain markets completed another week, which included light trading volumes. A market analyst shares what you can expect from the upcoming, yet shortened trading week.
Greg McBride, commodities broker with Allendale, Inc., reflects on this past week’s trade. McBride says, “Volume was low across all markets.”
“What we’re seeing is a lack of participation, at this point. We’re not seeing the funds come in and slam the market down lower,” McBride said. “We’re not finding a lot of willing sellers when we get to the lower end of the range and we’re not finding a lot of willing buyers when we get to the upper end of the range.” Read more
IARN — Many remain concerned about relations between the United States and China.
Beijing this week threatened countermeasures, if sanctions are to be imposed. First Squawk reported the latest development, which further complicates the month’s old Phase One trade agreement.
Jennifer Hillman, senior fellow for Trade and International Political Economy with the Council on Foreign Relations, analyzes the unique relationship between the world’s largest economies. Read more
Statewide Iowa — Some Iowa farmers could get checks in June as the USDA implements the Coronavirus Food Assistance Program. Read more
Statewide Iowa — The Iowa Department of Agriculture says an agreement that is designed to help small-size meat processing facilities is moving ahead. Iowa Ag Secretary, Mike Naig, says it involved lockers with fewer than 25 employees. Read more