U.S. Global Leader in Cotton Exports and House Reps Push Back on EATS Act
From Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The U.S. is the global leader in cotton exports by value, holding a 33% share of the global export market in 2021.
www.agrimarketing.com reports cotton exports expanded to $8.9 billion in 2022 and, while cotton exports in 2023 are expected to be lower, USDA's 10-year projections indicate growth in the long term.
In 2021, U.S. exports of cotton totaled nearly 3 million metric tons, 47% more volume than the next highest exporter, Brazil.
www.agrimarketing.com/s/146983
**Sixteen members of the House of Representatives pushed back against the Ending Agriculture Trade Suppression, or EATS Act.
The group sent a letter to House Ag Chair Glenn Thompson and Ranking Member David Scott.
Competitive Markets Action president Marty Irby applauds the representatives for taking a stand against the EATS Act that would sell out American agriculture to China.
He says it’s an assault on states’ rights backed by Smithfield, a wholly owned Chinese corporation.
**The U.N.’s Food and Agriculture Organization’s Food Price Index edged lower to 121.5 in September, the lowest since March 2021.
Dairy prices dropped 2.3%, a ninth consecutive fall.
Meat costs dropped 1%, led by a drop in pork amid weak export demand from China and ample global availabilities.
