DTN Closing Livestock Comment 01/29 16:05
29 Jan 2020
DTN Closing Livestock Comment 01/29 16:05 Livestock Contracts Bearish Even With USMCA Signing Little positivity develops in the livestock complex as contracts close lower and cash cattle trade develops for lower prices as well. By ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Wednesday's announcement of President Trump signing the USMCA had little effect on the day's market, much like the signing of the phase-one trade agreement where the market's enthusiasm had already been bolstered into the complex. The USMCA comes as a win for U.S. ag producers as DTN Ag Policy Editor Chris Clayton shared that, "Under NAFTA trade in north American has grown to about $1.3 trillion annually between the three countries. USMCA is projected to add about $68 billion in U.S. exports once fully implemented, which included $2.2 billion for U.S. agriculture."