The Wall Street Journal tells us that the U S demand for meat isn't keeping up with the American supply. Dr. David Anderson, Agriculture Economist with Texas A&M explains:
“We’re producing a record amount of meat because it has been profitable to do so. Our exports have been booming, and our domestic demandhttps://www.focus-economics.com/country-indicator/united-states/domestic-demand by all of us consumers has been very good also!”“
Things are changing internationally, though.
“So the big tariffs have been put on pork and other meats. We have seem some drastic declines in exports. What that means is lower prices. We may be able to find new markets and ship to other places around the glob – but it also means lower prices for us in the U.S!”“<PSI_END_OBJECT>
Dr. Anderson, adds soy beans to the mix.
“We export a huge amount of soybeans to China. They have put these tariffs in place on these products. Soybean prices have dropped dramatically already.”
This is good for the meat supplier because their product feeds on soybeans and they can lower prices for us once more. But it's not so good for the farmer who grows the soybeans and has an overflow of product. Food exporters are now looking into expanding their market into Eastern Europe or South America.