The decades-old U.S./EU beef trade dispute is back on the front burner as the U.S. decides to retaliate. Meanwhile, a USDA report, which showed meat and poultry in cold storage down from last year, included a particularly notable surprise. U.S .Retaliates on Beef Trade with the EU The decades-old U.S./EU beef trade dispute is back on the front burner. The WTO originally ruled against the EU’s ban on U.S. beef for the use of growth-promoting hormones in 1999. It found that the ban was not in compliance with international trade rules and allowed the U.S. to impose retaliatory tariffs on certain EU products. The WTO re-affirmed that ruling in 2008. Finally, the U.S. and EU signed a memorandum of understanding (MOU) in 2009 that rescinded the...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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