Ag News: Philippines Lowers Pork Tariffs and Ag Fairs Rescue Act
**With pork production in the Philippines heavily impacted by African swine fever, the President there is temporarily lowering tariff rates for imported pork muscle cuts.
The Philippines' standard tariff rates are among the highest in the world, typically 30% to 40%.
U.S. Meat Export Federation Economist Erin Borror says the order lowers the in-quota tariff rate to 5% for a period of three months, and then 10% for the following nine months.
After 12 months, the rates will return to previous levels.
**Swelling beef demand is fueling a rally in wholesale beef prices that pulled negotiated cash cattle prices $3 to $5 per cwt. higher.
According to www.agweb.com, the reopening of restaurant and foodservice establishments across America is driving beef demand to pre-pandemic levels and beyond, spiking wholesale beef prices $20 per cwt. higher last week, and more than $34 higher over two weeks.
April wholesale beef demand could be at 30-year highs.
**The Agricultural Fairs Rescue Act, a bill to help preserve fairs across the country and offset the devastating financial losses experienced due to COVID-19, was reintroduced last week.
Representatives Dan Newhouse, of Washington, Jimmy Panetta and Mike Levin, of California, and Billy Long, of Missouri, are sponsoring the measure.
The Agricultural Fairs Rescue Act authorizes $500 million for fairs, administered by the USDA’s Agricultural Marketing Service.