Reports last week that Kingston’s Canada Royal Milk plant, owned by Chinese company Feihe International, might be in jeopardy following the signing of USMCA, were alarming and confusing, says the head of Kingtson’s economic development corporation. “There is no immediate impact on Feihe Canada Royal Milk’s investment in Kingston or the forecasted job creation,” says Donna… Read more »
Category: USMCA
Post USMCA, Bank of Canada expected to bump interest rates
It seems like a foregone conclusion, but the Bank of Canada is expected to raise interest rates Wednesday. The market is expecting a 25 basis point hike to 1.75%, which would be the fifth increase since July, 2017. Bank of Canada Governor Stephen Poloz will address the Canadian economy that’s been tempered in the past… Read more »
Loss of Class 7 — not access — the larger USMCA problem, says economist
There was a tremendous amount of relief, and some consternation, when the new United States-Mexico-Canada Agreement (USMCA) was finally struck. Cleary, many industries are simply happy that things did not get worse. The dairy industry, though, feels that things did get worse for them. Dr. Richard Barichello, professor, food and resource economics at the University… Read more »
Canadians take the pulse of World Dairy Expo
Walk around the World Dairy Expo at Madison, Wisconsin, and you’ll find Canadians everywhere – from the show ring, to the cattle barns, and the exhibit halls. In the video below, RealAgriculture’s Bernard Tobin and Jordon Underhill, general manager of the Canadian Dairy XPO (CDX), take the pulse of the attendees at the annual dairy showcase…. Read more »
Wisconsin dairy farmer ponders “managed production” for a brighter future
What a week in Wisconsin. When I arrived at the annual World Dairy Expo in Madison, Wisconsin, early last week, farmers across the U.S. were still trying to understand the potential impact that the United States-Mexico-Canada Agreement (USMCA) could have on their farms. Early television reports featured emotional farmers sharing tearful thanks for a new… Read more »
NAFTA Re-Negotiations: Why Canada got exactly what we asked for
During a recent trip to Washington, D.C., Foreign Affairs Minister Chrystia Freeland wore a t-shirt that read: “Keep calm and negotiate NAFTA.” To farmers looking at the result, the shirt could just as easily have read “I renegotiated NAFTA, and all I got was this lousy t-shirt.” Canada came to the table with very little… Read more »
USMCA is ‘pennies and nickels’ for U.S. dairy farmers, says analyst
Increased access to the Canadian dairy market through the newly minted United States Mexico Canada Agreement (USMCA) will not be a boon for U.S. dairy farmers. That’s the early verdict from Mark Stephenson, director of dairy policy analysis at the University of Wisconsin-Madison. “I think the dairy producers are not going to look at their… Read more »
Tough time to market beans: diving into these trade-rocked markets
Soybeans have been on a wild ride the last few days, riding news of high stocks, news of the U.S./Mexico/Canada trade agreement (USMCA). What’s a farmer to do? RealAg Radio host, Shaun Haney spoke with Arlan Suderman, chief commodities economist at INTL FCStone Inc., to talk soybeans’ recent woes. “I think that there’s a lot… Read more »
Removing trade uncertainty from the agri-food market a positive step: Innes
The long, drawn out NAFTA negotiations really weighed heavily on the nerves of agricultural exporters. The fear of losing the U.S. market or the real threat of the border possibly becoming thicker was a huge stress for beef, pork, oilseed, and cereal producers. The news, then, that there is a trilateral deal to be ratified… Read more »
Signed, sealed, delivered: A breakdown of USMCA for agriculture
The 25-year-old trade deal known as NAFTA is no more. As of Sunday night, the United States-Mexico-Canada Agreement know as USMCA was born. So what does this mean for producers? Let us break it down for you… Increased market access for American dairy farmers So far, market access into the Canadian dairy sector has been… Read more »
DFO: Increased access is “meaningless” to U.S., only hurts Canadian dairy farmers
At one hundred thousand feet the new USMCA (NAFTA 2.0) comes with little change, according to most main stream analysts. For agriculture we know that this is not true. One of the agricultural sectors hit hardest is the Canadian dairy industry through concessions to the United States in this new deal. The concessions are two… Read more »
New trade agreement reached by Canada, U.S., and Mexico
Canada has reached an 11th hour trilateral trade agreement with the U.S. and Mexico. The new deal is dubbed the United States-Mexico-Canada Agreement (USMCA). Multiple media outlets say Canada’s dairy sector will see changes, with American dairy farmers getting more market access at a reported 3.6 per cent. Additionally class 7 pricing will be revamped… Read more »