“Partly driving the decline is the brighter economic outlook for dairy in 2020.” --Michael Nepveux, Farm Bureau
Dropping land values in some areas could put the brakes on dairy expansions.
Just days after the U.S. and China signed the Phase One agreement, agricultural groups, traders and producers are still trying to sink their teeth into the scope of the trade deal.
Industry officials say Phase One is a good start, much more needs to be done.
A phase one trade deal with China is official, clearing the way for America’s chief trade competitor to purchase $80 billion worth of U.S. agricultural goods over the next two years.
The loss of sales to China between January and November 2019 is equal to about 1.3% of total U.S. milk solids.
Once the deal passes the Senate, it will be Canada’s turn to ratify the agreement.