Week in Review: Prices, Trade and Policy Dominate Dairy
Prices, trade and policy defined news headlines this week. As dairy prices kind of rose, so did concerns over USMCA passage and hope for a promising labor bill.
World dairy prices jumped 1.7% in the aggregate this week in the Global Dairy Trade Auction in New Zealand, MILK’s Jim Dickrell reports here.
So what does this mean for dairy’s future? One dairy economist says, “Things look a lot rosier for 2020 than we have seen in the last 4 to 4 ½ years,” says one dairy economist. Let’s hope so. Meanwhile, another dairy economist asks about milk price, “Has the high been reached?”
We’ll let you decide which is more likely after reading.
Both China and U.S. trade negotiators show signs of concessions, and trade talks continue.
Does that mean MFP payments will continue into 2020? "Our great Farmers will receive another major round of ‘cash,’ compliments of China Tariffs, prior to Thanksgiving,” Pres. Trump said in a Sunday tweet. We give you an policy-prediction longer than Twitter’s 144-character limit here.
Another trade topic of uncertainty – USMCA. Passage of the United States-Mexico-Canada Agreement does not look promising in 2019, but we discuss the possibly more here.
California’s Secretary of Agriculture Karen Ross wrote an interesting letter in response to the state “case and desist” payment collection system, which we summarize here.
And to end this week’s recap on a (somewhat) positive note, there is a promising labor bill being considered in the U.S. House of Representatives. It would allow permanent employees to participate in H2A, but its passage is not optimistic. Read the full story here.