The dairy industry is keeping a close eye on trade policies. The U.S. exports a little more than 15 percent of dairy products, meaning access to global markets affects supply and prices.
‘Dairy has big stakes in export markets. We export about 16 or 17% of our production, so if we lose those or lose a portion of them, then that means products are backing up into the U.S., and unless we find new homes for those, either domestically or in other markets, then prices drop because we have too much supply. So, the stakes are very high for dairy, and of course, our three biggest markets are Mexico, Canada, and China,” said National Milk Producers Federation’s Chris Galen.
Canada and Mexico are top markets for U.S. dairy exports, with ongoing efforts to strengthen ties. Meanwhile, China remains the largest market.
“I’m not sure where this bridge goes,” trader Brady Huck with Advanced Trading told RFD-TV News earlier this week.
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Julie Callahan was nominated earlier this summer by President Donald Trump, and U.S. Trade Representative Jamieson Greer told lawmakers she is ready to hit the ground running.
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American Soybean Association President Caleb Ragland shares the soybean sector outlook following the announcement of farm aid to offset losses for U.S. row crop growers.
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