Ag Export Value Lowest in 5-Years and Longshoremen Agree to New Contract
From the Ag Information Network, this is your Agribusiness Update.
**The value of U.S. ag exports in fiscal year 2025 is expected to drop to the lowest level in five years.
But USDA says shipments are projected to be valued at $170.5 billion, up from the $170 billion in November.
Corn exports will total $13.8 billion, up from November’s $12.4 billion.
Wheat exports at $5.8 billion, down from $5.9 billion.
Livestock, dairy, and poultry exports at $39.7 billion, up from $39.3 billion.
**The final approval for a new six-year contract agreement between the International Longshoreman’s Association and the U.S. Maritime Alliance is a done deal.
The approved contract will run from October 1, 2024, through September 30, 2030.
Almost 99% of the ILA members voted to approve the agreement.
The agreement includes a record 62% wage increase, full protections against automation, a strengthening of the Union’s health care plan, and many other benefits.
**The USDA’s Ag Marketing Service released new data showing the impact of beef and dairy crossbred cattle on the beef supply chain.
While limited in scope, the data suggests the growing number of beef-on-dairy animals is contributing to higher cattle prices for producers and delivering added value to feedlots and processors.
The analysis shows slaughter auction prices for beef-on-dairy cattle were slightly higher than for beef cattle and significantly higher than dairy cattle.
