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: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...