All sectors of agriculture, including produce, specialty crops and horticulture, will be included in a $16 billion direct payment plan to be submitted to the White House this week by USDA Secretary Sonny Perdue.
It's not clear where the boxed beef cutout will settle out in the coming days. At the same time, the demand for food service has dropped sharply leading to a diverse set of impacts on various wholesale beef cuts.
U.S. pork exports posted the third largest month on record in February while U.S. beef exports also recorded double-digit gains from a year ago, according to data released by USDA and compiled by USMEF.
Fears over the coronavirus have caused Cargill Inc. to ban all non-essential employee travel. Facebook has also cancelled its largest convention, but the organizers of the Tokyo Olympics say preparations continue.