Tariffs are having their desired effect on US agriculture sooner than many expected.
Peter Friedmann, executive director of the Agriculture Transportation Coalition, or AgTC, a leading export trade group for farmers, told CNBC the number of canceled purchases of U.S. agricultural products should not be described as approaching a crisis. “It is a full-blown crisis already,” he said.
They didn’t learn 8 years ago. You can’t work around dumb.
Farms are in crisis already. Vegas is already hurting. We know shipping from China has basically fallen to zero now. I say recession is unavoidable at this point and Wall Street does not seem to have that priced in yet. Lastly the Mungofitch 99-day has triggered (see other thread). We haven’t seen the bottom of stocks yet.
The NYT Daily Podcast today checked in with various voters to get their reactions to Trump so far. As expected the loyal Trump voters think he is performing wonderfully. Full steam ahead, the future is bright. But some are changing their minds.
Trump told them they would ‘never have to vote again’ if he was elected. I guess they didn’t understand what he was saying.
As noted before, farmers are expert whiners. They may have a point, but, hearing them whine, about everything, all the time, for decades, has erased any credibility they may have had.
Steve
But if China buys its soybeans from Brazil, who supplies Brazil’s customers?
World demand is out there. The customers are still there. Its only a problem when farmers elsewhere grossly expand production.
Brazil. Brazil has increased production dramatically. China is a new market for them.
Just a datapoint:
12,000 tons of pork is roughly 2.1x the pork my family produces annually. This is a VERY small number, as it is equivalent to the operations in 1 county in Missouri.
Who else really likes pork? Will they have a cheaper meal?
Another datapoint:
3 of the top 6 items on the list below are produced in quantity on that farm. A 4th hasn’t been produced there commercially for 3 decades now (chicken, eggs)
I’ll ask how the weather is in MIssouri (and get back to you with more details).
Bananas and plantains are the fourth largest waterborne export from the US? How can this be? Where are they grown?
Not sure what your message is. The Chinese bought Smithfield, the largest US producer of hams. They are big in Missouri under the Farmland name.
We have lots of corn. Lots of corn goes to market as pork and poultry. Corn production is highly mechanized. Meat and poultry butchering are labor intensive. Not good jobs. Usually dependent on immigrants. So trend is we would rather export grain to a low cost labor country.
Weather in Missouri this year is lots of rain. Rapeseed in my area is blooming. But probably too wet to plant corn. Knee high by the fourth of July requires planting by Memorial Day. Looks like a wet year.
