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Most Recent USDA Data Projects Imports to Remain at 11 Percent of U.S. Consumption

    

Discussions about beef imports were put in the spotlight this week. NCBA agrees that the industry should have a conversation about imports and where we’re sourcing beef, but it’s important that the conversation be rooted in facts, not back of the envelope estimates using data from nearly a decade prior.

In response to R-CALF’s May 22, press release on trade levels, NCBA would suggest that it’s important that any reasonable discussion on trade include the most recent information available. Global beef trade is dynamic and trade levels rise and fall based on factors such as changes in currency valuation, areas of drought or moisture, global consumer demand, and many other variables, so utilizing old trade data is just the latest demonstration of R-CALF’s willingness to cherry-pick the facts to drive their agendas.

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USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension


USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.