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President Donald Trump proposed allowing 300,000 metric tons of foreign beef to enter the United States Friday morning without an out-of-quota tariff for 90 days.
A former U.S. agricultural trade negotiator, Gregg Doud, president and CEO of the National Milk Producers Federation, hit on several topics driving agricultural demand. A smaller U.S. crop combined with tightening global grain supplies has changed the downside risk for corn prices just as U.S. dairy processors are pouring billions of dollars into new capacity to capture growing consumer demand for protein.
USDA's Aug. 1 Cattle on Feed report isn't expected to move markets significantly, as it will likely be overshadowed quickly by the U.S. border reopening to Mexican cattle imports beginning Monday, Aug. 24.
