The clock is ticking down for port owners and unions to come to an agreement over labor. The current contract extension expires on January 15th, and a work stoppage could have a major impact on agriculture trade.
Contract negotiations got quite heated back in November. Despite the back-and-forth, the two sides were able to pass a short-term contract until January 15th, but that day is quickly approaching, and the Union is pushing back on automation requests by port owners.
The U.S. Meat Export Federation has been closely watching and says uncertainty is already brewing. Around 45 percent of waterborne U.S. pork exports leave ports that would be impacted by a strike.
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The National Milk Producers Federation (NMPF) says recent wins in markets like Malaysia and Cambodia help farmers focus on production rather than trade barriers.
Lucia Ruano, USMEF’s Central America representative, discusses what is driving demand for U.S. beef and pork in the region.
Tyson expects another year of beef-segment losses due to tight cattle supplies, even as chicken, pork, and prepared foods strengthen overall margins.
Export strength is concentrated in corn and wheat, while soybeans and sorghum lag, keeping basis and logistics dynamics highly commodity-specific into late fall.
Lewie Pugh, with the Owner-Operator Independent Drivers Association, joined us on Monday’s Market Day Report to share his perspective on what the bill could mean for truckers.
With port fees now lifted, economists believe that could help ease tensions. However, American Farm Bureau Federation (AFBF) economist Faith Parum said trade deals with smaller Asian countries are helping stabilize the ag economy.
