Port Fee Estimates for Chinese Vessels and Cattle on Feed Report
From the Ag Information Network, this is your Agribusiness Update.
**A new report estimates the recently imposed U.S. port fees on Chinese vessels could increase shipping costs for American ag exporters up to $6.2 billion annually by 2028.
The policy was issued by the U.S. Trade Representative’s Office in April and imposes phased-in fees on foreign vessels connected to Chinese ownership or construction.
In the first year, the policy is expected to increase total shipping costs by an estimated $2.3 billion.
**The USDA’s Cattle on Feed Report says cattle and calves on feed for the slaughter market for feedlots with a capacity of 1,000 or more head totaled 11.4 million on June 1.
That inventory was 1% below June 1 of last year, which fell within most of the industry’s pre-report expectations.
Industry experts called the report neutral to slightly friendly but continue pointing to a tight supply picture for the cattle market.
**The National Multi-Agency Coordination Group raised the national wildland fire preparedness level one step higher to Level 3.
The Group is composed of wildland fire representatives from each wildland fire agency at the National Interagency Fire Center in Boise, Idaho.
Ag Secretary Brooke Rollins says we are taking it seriously, and our federal wildland firefighters are prepared to respond.
The Forest Service had hired 96% of its hiring target by June 1.
