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.
USDA released the November WASDE Report on Friday, the first supply-and-demand estimate to drop since September, just before the 43-day government shutdown.
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The request follows pressure from the American Sheep Industry Association (ASIA), which called for a formal investigation into whether lamb imports from Australia and New Zealand have cut into the U.S. market share.
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David Hardin with the Indiana Soybean Alliance discusses USMEF’s push to open new global export markets for both meat and soy-based feed.
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FD-TV’s own Tammi Arender caught up with Gregg Doud, President and CEO of the National Milk Producers Federation.
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