Several agricultural stakeholders, including the Pennsylvania Farm Bureau (PFB) and Farmers for Free Trade (FFT), recently spoke at Penn State University’s Ag Progress Days on how strong trade agreements are vital to the nation’s economy.
Escalating trade tensions between the United States and some of its trading partners have adversely affected farm and business sales and the state’s economy, several speakers said.
Soybean prices have fallen approximately $2 a bushel while lean hogs have lost a quarter of their value since tariffs with China were instituted. During the same time frame, China has reduced its purchase of American pork products by more than $2.2 billion.
“Without question, our pork industry has benefited from free trade. As a result, we have stronger farms that play a valuable role in contributing to local, state and national economies,” Chris Hoffman, Juniata County hog and chicken farmer, said. “And, even if it’s not my cut of pork being exported, healthy export markets keep surplus products down, positively influencing prices for all pork producers.”
Dairy prices have fallen 10 percent since the beginning of the year, dairy farmer Paul Hartman said. Dairy farmers have been dealing with low milk prices over the past four years, according to the Farm Bureau.
Industries related to agriculture, such as tractor and harvesting equipment manufacturers, have also been impacted.
“Farmers for Free Trade is proud to join the Pennsylvania Farm Bureau to discuss the importance of trade to Pennsylvania agriculture,” Angela Hofmann, deputy director of FFT, said. “Many of Pennsylvania’s farmers and agricultural workers are already paying the price of the trade war, and we hope our conversation will help highlight the need for consistent and fair trade policies.”