U.S. Red Meat Losing Ground in Japan It is the first day of the fiscal year in Japan, and duties on beef, pork and other commodities dropped under both the Japan-EU Economic Policy Agreement (EPA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) for exporting countries that are competitors to the U.S. The effective dates for the first rounds of tariff reductions under the EPA and the CPTPP were 1 February and 30 December 2018, respectively, and the second rounds were put in place today. That puts the U.S. at the following tariff rate disadvantages:
11.9 percent on chilled and frozen beef muscle cuts 7.1 percent on beef tongues and skirt meat 3.4 percent on pork sausage 4.2 percent on hams and bac...
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...
