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.
Related Stories
March cold storage data showed generally tighter year-over-year stock levels across several key meat and dairy categories.
U.S. Soybean Export Council CEO Jim Sutter joins us to discuss the impact of new trade development funding for U.S. soy.
Florida’s import rule shows New World screwworm concerns are already affecting livestock movement and market conditions.
Steady Panama Canal operations help support more predictable shipping conditions for global agriculture.
Grain movement stayed active, with barges showing the strongest weekly gain while rail and ocean signals remained mixed.
Rising ethanol stocks and softer gasoline demand bear watching, but stronger blending activity and exports offered some support.
