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Shining Light on Farm & Food Policy for 20 Years.
Thursday, September 26, 2024
Grocery prices rose just 0.1% in December for the second month in a row and are up 1.3% year over year as food inflation continues to moderate, according to the latest Consumer Price Index.
The USDA’s Economic Research Service on Thursday lowered its forecast for U.S. agricultural exports in fiscal year 2024 to $169.5 billion. That’s down $2.5 billion from USDA’s previous forecast in August and down $9.2 billion from exports in FY 2023.
Tyson Foods pointed to measures it’s taking to increase efficiencies in a challenging meat market as it reported lower sales for fiscal 2023’s fourth quarter and projected flat sales in 2024.
The Biden administration has made it clear it won't use the 14-nation Indo-Pacific Economic Framework for Prosperity to negotiate lower tariffs on American ag exports, but U.S. officials insist there are plenty of non-tariff trade barriers to be resolved, and U.S. farm groups’ hopes are high as talks continue this week in San Francisco during a seventh round of negotiations.
The U.S. pork industry wants to see a return of the Generalized System of Preferences trade program, which expired in 2020, seeing it as key to gaining new access to markets in countries like Thailand and the Philippines.
China had no right to hit U.S. exports – including farm commodities - with retaliatory tariffs five years ago in response to U.S. steel and aluminum tariffs, according to a ruling Wednesday by a World Trade Organization dispute panel.
Pork exports have enjoyed a healthy first half of 2023, but beef sales to overseas customers have lagged, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Tyson Foods on Monday announced the closure of four chicken processing plants, and the meatpacking giant said it lost money on its chicken and pork business during the latest quarter while barely covering costs on its beef segment.
As Congress prepares to write a new farm bill, animal welfare advocates are preparing to safeguard California’s Proposition 12 and similar laws regulating agricultural practices while also pushing to tighten standards for dog breeders, ban the export of horses for slaughter, and eliminate the last vestiges of animal fighting and dog racing in the United States.