The ag sector is keeping a close eye on Brazil trade developments, with a sweeping 50 percent tariff set to take effect next month. And with the US being a main beef market for the country, many are speculating over the potential impact.
Steve Sothmann with DTB AgriTrade joined us on “Market Day Report” for a closer look.
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China is making strategic moves by purchasing more soybeans from Argentina and may soon follow the EU and reopen its market to Brazilian chicken exports.
The three-point plan was announced during remarks at the annual meeting of the National Association of State Departments of Agriculture.
Higher tariffs may shield some U.S. crops but risk retaliation, lost markets, and higher costs for growers. The WTO disputes highlight the fragile balance between trade policy, farm exports, and input supply chains.
USMEF CEO Dan Halstrom joined us on Monday’s Market Day Report for his analysis on the U.S.-Taiwan trade agreement, which includes big bucks for U.S. Beef.
Fewer cattle on feed suggest smaller slaughter numbers this winter, which could support strong prices if beef demand holds firm.
The USDA NASS report also confirms lower August placements.
Producers and processors should watch trade policy closely as tariff impacts ripple through seafood markets.
All eyes will be on today’s Cattle on Feed Report, which analysts say could give a clearer picture of where the market goes next.
Now the Senate must pass a version of the spending bill before the Sept. 30 deadline.