USMEF says Mexico's retalitory tariffs could cost $1billion
The loss of market share in Mexico, the top foreign market for U.S. pork, as a result of its retaliatory tariffs will lower the value of U.S. pork because products that will not go to Mexico would be absorbed by other markets and the domestic market — at lower prices, USMEF said. “Looking only at ham prices, the drop in the primal value could translate into losses to the industry of more than $300 million for the remainder of the year, which would be roughly $600 million over the next year,” the report states. “Picnics are the other primal likely to be impacted. [node:read-more:link]