Many are watching the grain trade closely this week. Mark Oppold has more information on the factors why, and also looks at the tight range being found in the cotton market.
Pork Exports Continue to Gain Momentum; Beef Export Value Sets Annual Record
According to new data released by the U.S. Department of Agriculture (USDA) and compiled by the U.S. Meat Export Federation (USMEF), November exports of U.S. pork were the largest of 2022 in both volume and value, while beef exports were below the large year-ago totals. But, 2022 beef export value already set a full-year record of nearly $11 billion. USMEF President and …
NOAA Proposes Seafood Import Monitoring Expansion
Proposed changes for seafood imports. That’s coming up on This Land of Ours. The National Oceanic and Atmospheric Administration (NOAA) has announced a proposed rule to expand the Seafood Import Monitoring Program. The risk-based program is for targeted species of seafood imported into the United States. NOAA says expanding the program would increase the number of species included in the …
United States and Taiwan to Hold Trade Negotiations
The United States and Taiwan will hold an in-person negotiating round for the U.S.-Taiwan Initiative on 21st-Century Trade in Taipei. The negotiations are under the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States. The next round of talks is scheduled for January 14-17. The U.S. Trade Representative’s Office will lead the U.S. …
Baby Formula Imports Face Tariffs Again in 2023
Baby formula importers face changes again this year. That’s coming up on This Land of Ours. Baby formula imports into the U.S. will be subject to tariffs again this year as the exemptions implemented during a nationwide shortage are scheduled to expire. Reuters says the shortage began during supply chain issues brought on by COVID, and those issues began to …
U.S. Beef Exports to East Asia on a Record Pace
The USDA’s Foreign Agricultural Service (FAS) released a report titled “U.S. Beef Exports to East Asia on a Record Pace.” Despite economic uncertainties brought on by COVID, continued global supply chain challenges, and a competitive global beef market, American exports to East Asia were outstanding in the first half of 2022 in terms of value and volume. The report says, …
New Dollars to Help Expand Export Markets
New dollars have been awarded to various agricultural organizations to help expand export markets in 2023. Tyron Spearman has more details.
Record Beef Exports, Rebounding Pork Exports in 2022
Exports of U.S. beef for the year have surpassed the $10 billion mark for the just the second time and are on pace to approach $12 billion when all 2022 shipments are tallied. U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom comments on the growth in market diversity that has driven demand for U.S. red meat in 2022, especially …
USDA Economist Not Worried About Potential Ag Trade Deficit
The U.S. Department of Agriculture (USDA) is forecasting an agricultural trade deficit in 2023. While deficits have happened in the past, the agency has never forecast one in advance until this year. The agency says ag exports are projected to reach $190 billion next year, but imports are projected to rise to $199 billion. Seth Meyer, chief economist with USDA, …
Hoping to Send More U.S. Peanuts to the European Union
Efforts continue to see that more U.S. peanuts head towards the European Union. Tyron Spearman has more details.