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Balanced Reporting. Trusted Insights.
Friday, May 26, 2023
New research from the University of California, Davis, suggests cultivated meat might not be better for the environment than beef from traditionally raised cattle, and in some cases could be worse.
The Japanese tariff on U.S. beef has dropped gradually from 38.5% in 2019 to 23.3% this year as a result of the three-year-old U.S.-Japan Trade Agreement, a prime example of the kind of free trade agreement the U.S. ag sector and some lawmakers say they want to see replicated.
The halt in operations at the ports of Los Angeles and Long Beach was brief and union workers are now back on their jobs, but the stoppage at the largest port complex in the U.S. created a scare for U.S. meat exporters and their foreign customers, according to U.S. Meat Export Federation spokesman Joe Schuele.
Supermarket prices rose another 0.3% last month, driven in part by jumps in the cost of beef and pork, but food inflation continues to ease from the spikes shoppers saw in 2022, the Bureau of Labor Statistics reports.
The Agriculture Department reduced its fiscal 2023 forecast for U.S. ag exports to $190 billion, a $3.5 billion drop from the agency’s last estimate in August, largely reflecting weaker expectations for soybean sales.
