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.
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Host of
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The Farm Bureau urges trade enforcement, biofuel growth, fair input pricing, and pro-farmer policy reforms to restore long-term certainty.
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Farmers for Free Trade Executive Director Brian Kuehl shares more about the tour to gather farmers’ insights on the economic challenges they face in the ag economy.
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Wheat futures briefly hit a three-month high before retreating as the markets wait for word on whether the deal will actually happen.
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