Beef Remains Key Issue in Canada-EU Trade Deal

Jun 17, 2013

Beef Remains Key Issue in Canada-EU Trade Deal

Beef continues to be one of the stickler points under negotiation for the Canada-European Union trade talks. The EU’s two biggest beef producers – France and Ireland are said to be against how much beef access Canada is requesting.

Despite this, the Canadian Cattlemen’s Association said that they are optimistic a deal will be reached that will favor Canadian beef producers. The tricky part is not only gaining access, but enough access to make it worth switching some Canadian cattle operations to comply with EU standards.

Cattlemen’s say they are pleased with how Prime Minister Stephen Harper has been handling the negotiations thus far, noting that Canada has been clear that we won’t settle for just any deal, but rather it has to be the right deal.

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!