Ag News: ASF Impact on China
**Last week, the USDA confirmed China bought 31,400 metric tons of the 46,300 exports sold, the second-largest purchase of U.S. pork ever.
Agweb.com reports, the growing demand is due to the sweep of African swine fever over China, just a taste of the pork exports that could be coming in the next few months.
RaboBank’s protein analyst Christine McCracken describes the losses as “massive,” larger than the entire U.S. hog production annually.
**As USDA works on a second year of tariff aid payments under the Market Facilitation Program, they face pushback from corn growers feeling shortchanged by the penny per bushel received in 2018 AND not wanting to skew planting intentions with most of the 2019 crop still in seed bags.
According to milkbusiness.com, USDA offered its solution to both problems with payments delivered at a single rate for all covered commodities.
Payments will be based on reported planted acres for 2019 and cannot exceed 2018.
**Dow Jones reports the past year being the wettest on record is raising costs for the nation's biggest ag companies, stalling farmers' fieldwork and slowing shipments across the U.S. Farm Belt.
Corteva Agriscience chief Jim Collins tells agrimarketing.com, “It's got to be the worst ever we've seen," with sales falling 11% for the most recent quarter reported.
The 12-month period from May-to-April was the wettest in the contiguous U.S. since record-keeping began in 1895.