The conflict between Israel and Iran could cost U.S. farmers when it comes to ordering supplies. Fuel prices are already under pressure, and one economist says the markets have seen some rumbles recently.
“Most recently in the last week, we’ve had, as you know, an escalation of tensions and military conflict. Israel, looking to take out the nuclear capabilities of Iran before they, God forbid, had produced a nuclear weapon. We’ve seen markets gyrate right and left on those energy markets, and oil prices have been moving up,” said Ken Zuckerberg.
Fertilizer could come under pressure, too. Researchers at the University of Illinois say recent action in the Middle East has taken out fertilizer production in Iran. The concern is that it will add to growing uncertainty around Chinese and Russian supplies.
USMEF President and CEO Dan Halstrom shares how recent trade talks are influencing U.S. red meat global sales and the importance of key trade agreements like the USMCA.
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A Reuters report shows China has a soybean “glut,” finding stockpiles at Chinese ports are at record levels, with crushers there holding the most supplies since 2017.
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Tyson expects another year of beef-segment losses due to tight cattle supplies, even as chicken, pork, and prepared foods strengthen overall margins.
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If the House concurs and the President signs, USDA services and farm-bill programs resume at full speed with authorities extended for another year.
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