Trade Relief Protein Purchases As expected, USDA announced the second trade mitigation program today. It is a $16 billion package with $1.4 billion earmarked for the Food Purchase and Distribution Program (FPDP) created last year, up $200 million from last year’s target amount. Commodities to be purchased include fruits, vegetables, some processed foods, beef, pork, and milk. Poultry and lamb have now also been added to that list. The surplus commodities will be distributed by the Food and Nutrition Service (FNS) to food banks, schools and other outlets serving low-income individuals. Details are forthcoming, but the amounts under the initital FDFP action are noted in the table below.
The first FPDP purchase program was announced...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
