In our first episode of the new year, livestock economist Michael Nepveux of the American Farm Bureau Federation discusses 2019's black swans, and hopes for expanded exports in 2020.
The new year is a time when many people reflect on the successes and challenges of the previous 365 days and look ahead with excitement for the opportunities that lie in the 12 months ahead. For the agriculture industry in general and livestock producers in particular, 2019 was fraught with frustrations.
From trade tensions to political uncertainty, it was a year that saw the slowest global economic growth since the depths of the financial crisis. While a "Phase One" trade agreement was reached with China a few weeks ago, following movement on trade deals involving Japan and the USMCA, plenty of economic headwinds persist as a new decade dawns.
In this episode, American Farm Bureau Federation livestock economist Michael Nepveux talks with Feedstuffs policy editor Jacqui Fatka about those headwinds, and what he sees ahead for livestock production and trade in the days ahead.
0:00 Happy New Year! Welcome to the year's first episode.
1:46 AFBF livestock economist Michael Nepveux describes the 2019 livestock markets, including:
- Black Swan events like the Holcomb fire and its effect on the beef markets;
- Why a trade deal with Japan is important given the U.S. withdrawal from TPP;
- Continued expansion in pork production side, and how ASF-related issues continue to influence that market; and,
- What implications African Swine Fever has for the U.S. poultry market.
5:45 All of those issues and opportunities in the livestock sector have a direct impact on feed markets as well.
9:20 China may be the 800-pound gorilla of global trade, but it is not the only destination for U.S. exports. Nepveux discusses opportunities aside from China for U.S. meat, poultry and dairy sales abroad.
13:27 It's a new year; does that mean new opportunities, or more of the same for the feed and livestock markets?
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