Posted on 07/04/2018 11:23:56 AM PDT by Poison Pill
U.S. pork producers are about to be bitten by a second batch of hefty retaliatory tariffs from China and Mexico — and that has some large producers predicting they could lose big money and be forced to invest overseas.
Executives say the pork industry has been expanding in recent years, in part on the expectation of export opportunities that would continue to support growth. However, the threat of a trade war is adding uncertainty and driving fear.
"We put a halt on all investment, not just because we will be losing money, but because we don't know if growing in the U.S. is the right move if we won't be an exporting country," said Ken Maschhoff, chairman of Maschhoff Family Foods and co-owner of the nation's largest family-owned pork producer.
Maschhoff said the farm industry has been "asked to be good patriots. We have been. But I don't want to be the patriot who dies at the end of the war. If we go out of business, it's tough to look at my kids and the 550 farm families that look us into the eye and our 1,400 employees."
Mexico imposed a 10 percent tariff on chilled and frozen pork muscle cuts effective June 5, and that import tax is set to double to 20 percent on Thursday.
China, meantime, is scheduled to start collecting an additional 25 percent import duty Friday on American pork products as it targets $34 billion worth of U.S. goods in response to President Donald Trump's action against Beijing for alleged intellectual property theft.
China also is set to add tariffs this week on U.S. soybeans, corn, wheat, cotton, whiskey and dairy, as well as U.S. autos. Nearly $20 billion in U.S. agricultural exports went to China last year.
(Excerpt) Read more at cnbc.com ...
CHEAP BACON !!
So pork producers will “invest” overseas. Why? Foreign countries can produce their own pork. Guess what, they do not need you. Raising pigs is NOT rocket science.
Why must there be a ONE WORLD SUPPLIER for everything.
Allow each country to produce what they are competent at. Then tariff trade for the rest.
Let international countries form their own Free Republic.
THIS IS NOT ROCKET SCIENCE. It is simple tariff trade only for what you cannot build, which is next to nothing.
No he’s not
“The Mexican and Chinese markets have been seen as especially important to the U.S. pork producers, because they have purchased product that Americans typically don’t buy, including raw hams and “variety meats” like tongue, ears, snout, and heart.”
That’s what China and Mexico are buying
Someone should remind the whiners of what Trump did for them in passing tax reform.
Let the greedy bastards utilize a portion of the 40% income tax reduction they received to offset the tariffs.
“president of analytics for ArrowStream, a Chicago-based foodservice supply chain technology company, said he believes the tariffs are short-term and “more tactical” in nature, useful in the broader context of forcing key countries to negotiate on trade.
“Our advice is don’t get too wrapped up in politics, but see it as a major buying opportunity for commodities,” he added.”
Since CNBC is hardly pro Trump I don’t expect those glibalist so to find anything Trump does as good
Until Smithfield speaks this is nothing.
That isn’t what the sign means.
New folks were suing because of the smell from their farms.
Keep Up.
NC Legislature took care of it.
The bottom line on that one is that no one (consumer) wants them enough to pay for it.
The American consumer doesn’t eat nearly enough meat to consume all we produce.
The US farmer exports boatloads of meat daily.
Plus we have to burn tons of feed grains to keep from being buried under mountains of corn.
Eat more bacon.
Not so fast. Back in the 90’s the Russians boycotted US poultry and the USDA responded by destroying millions of birds to keep the market price up. The official line was “Bird Flu”, but it sounded too convenient for me. Wouldn’t be surprised if something similar occurs.
Country Of Origin was fought for by farmers since at least the 70’s.
It always irritated me and millions of other farmers that we couldn’t get our ‘Made in the United States’ stamp on our food.
And like border security, we thought our representatives were on our side.
Who is whining?
If you read the posted content you’ll see Maschhoff isn’t, he just wants a fair deal for hog farmers.
Why does that upset you?
Yet Kobe/Wagyu beef flies off the shelves at ridiculous prices.
I just moved here, didn’t know.
Trade wars have casualties.
Then I hope they put tariffs on tree nuts. The price of those is insane.
Farm Belt mid-terms could get interesting.
This does lot more than just damaging hog farmers. It hurts all farmers. Most pig farmers do plenty of row crop and other ag pursuits. You lecture farmers but you don’t have the slightest clue about the business. Corn and soybean prices getting too low for farmers to break even. This is in large part because of the trade war.
It is pork nation. I travel 4 times a year as work requires.
Enjoy your proximity to the beaches. :^)
I quit buying Smithfield products when the Chicoms bought them.
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