Germany said any escalation of U.S. tariffs on metal imports into a full-blown trade war could cause tangible damage to the global recovery, although the tariffs themselves should have only a limited effect.
China's ban on imports from Germany, its third largest supplier, comes as the world's top meat buyer faces a pork shortage of its own caused by a massive decline in hog numbers due to African swine fever.
Farmers across the country are being asked to dump their milk, as food service demand crumbled rapidly due to COVID-19. Still, farmers are frustrated that consumers can't buy as much milk as they want right now.
Germany's swine herd numbers are reaching near 20-year lows, resulting in a decline in pig feed demand. This causes challenges for the U.S. as it’s currently the top exporter of commodity soybeans to Germany.
World food prices fell fractionally in November from the month before, as a sharp rise in sugar and vegetable oil values was largely offset by a fall in dairy, the United Nations food agency said on Thursday.
World food prices rose in February from the month before, as rising prices for staple grains and dairy products more than balanced out lower values for vegetable oils, the United Nations food agency said on Thursday.