Cotton Prices Bullish and New Zealand Stops Sea Exports of Livestock
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Cotton prices are seeing some bullish factors come into play. USDA's latest WASDE report revealed higher exports, along with a smaller crop last year, continue to eat into overall supplies.
USDA showed ending stocks now sit at 3.9 million bales, equivalent to 22% total disappearance.
National Cotton Council CEO Gary Adams tells www.agweb.com it's not just smaller supplies, but a revival of cotton demand is also helping cotton prices.
www.agweb.com/news/crops/cotton/dwindling-supplies-and-renewed-demand-are-current-catalysts-cotton-prices?mkt
**New Zealand will stop exporting livestock by sea following a transition period of up to two years, citing animal welfare concerns, a decision that will affect major trading partners like Australia and China.
The ban was welcomed by animal welfare groups, but caught the farming industry body by surprise.
According to www.dairyherd.com, New Zealand’s primary sector exports revenue has averaged around $42.32 million a year from 2015 to 2019. New Zealand exported 113,285 cattle by sea last year.
www.dairyherd.com/news/exports/new-zealand-end-livestock-exports-due-animal-welfare-concerns?mkt
**The National Pork Producers Council and the American Farm Bureau Federation gave oral arguments last week before the U.S. Court of Appeals for the Ninth Circuit, asking the court to strike down California’s Proposition 12 as unconstitutional.
Prop 12, set to begin implementation on January 1 of next year, imposes arbitrary animal housing standards that reach outside of California's borders to farms across the country, and bans the sale of pork that doesn’t meet those standards.
