Mexico
USDA’s Animal and Plant Health Inspection Service (APHIS) suspended imports of live cattle and bison from Mexico on Nov. 22, 2024, following the detection of New World screwworm (NWS) along Mexico’s southern border.
The dispute traces back to December 2020 when plans were first announced to ban GM corn by the end of 2024. This move immediately raised concerns in the Corn Belt, prompting NCGA to initiate outreach to both the Trump and Biden administrations.
Brad Kooima, Kooima Kooima Varilek, says grains try to hold early gains. Nearby live cattle futures made new highs for the move pushed by sharply higher cash in the North at mostly $196, the South was at mostly $191.
Brad Kooima, Kooima Kooima Varilek, says cattle recover Tuesday after a KS plant closure headline hurt the market. Grains see a technical bounce with a lower dollar.
Jim McCormick with AgMarket.Net says Mexico, Canada and China are the top three export customers of the U.S. and account for 40% of total exports. So, if these countries retaliate it could be devasting for trade and ag markets.
Mike Minor, Professional Ag Marketing, says the markets shook off tariff talk and saw positioning end of month and before first notice day Friday.
Jim McCormick, AgMarket.Net, says corn and soybeans slid on possible tariffs being placed on Mexico, Canada and China. Wheat ends higher on short covering.
Trump said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the border, in a move that would appear to violate a free-trade deal.
Randy Martinson, Martinson Ag, says market reaction has been muted to possible 25% tariffs on Mexico and Canada and 10% on China on the first day of the Trump administration.
New World Screwworm is a serious veterinary pest that can cause severe damage to livestock and wildlife populations. The detection of New World Screwworm in Mexico and the subsequent USDA actions may have significant implications on trade and travel.