The May export numbers were released this week; plant shutdowns which hit beef and pork packing plants reduced export totals month over month compared to April. Beef was particularly impacted and dropped to the lowest monthly value in 10 years. Beef export value per head of fed slaughter averaged $282.48 in May, down 10 percent from May 2019.
Pork exports were above May 2019 levels when tariffs were in place by largest volume market Mexico (though removed in the second half of the month), largest variety meat market and global import leader China, and U.S. pork was at a tariff disadvantage to EU and other countries in largest value market Japan. Nonetheless, May exports were the lowest since October when exports to China ramp...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
