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China trade impasse drags down May U.S. red meat exports
Global trade is continuing to impact cattle and hog prices in Iowa and across the entire country. Exports of U.S. pork and beef trended lower in May, due primarily to steep declines in shipments to China, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). USMEF President and CEO Dan Halstrom said that, in April and the first half of May, China’s total tariff rate on U.S. pork peaked at 172%, while the rate for U.S. beef was 147%. Even following a May 14...