The ag sector is keeping a close eye on potential port fees targeting Chinese-built ships. While it aims to strengthen the administration’s “America first” trade agenda, many are concerned it could result in increased costs for U.S. farmers.
CEO of the World Shipping Council, Joe Kramek spoke with RFD-TV’s own Suzanne Alexander on testifying at the USTR hearing, ripple effects on farm exports, and what this will mean for the ag economy.
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Current estimates are already hovering around 80 weeks.
StoneX analyst Josh Linville says global supply risks and continued dependence on imported urea are keeping fertilizer markets on edge.
The lockout has not yet signaled a major disruption in the cattle market, but processing reliability remains important in a tight beef supply chain.
American Farm Bureau economist Bernt Nelson says consumers are still buying meat despite ongoing price pressures.
Analysts say drought, tight cattle supplies and summer grilling demand continue shaping the protein market outlook.
Soybeans accounted for nearly half of the $15 billion in losses on U.S. ag exports to China due to tariffs, according to researchers at North Dakota State University.