An Impact on Agriculture

This strike impacts ports on the East Coast and the Gulf Coast. The labor dispute impacts imports of everything from fertilizer to ingredients used in animal health products. The American Feed Industry Association said a prolonged strike could result in an animal health crisis due to the significant amount of vitamins, minerals, and amino acids that come through the ports. The impact is primarily on containerized shipments. American Farm Bureau Federation Chief Economist Roger Cryan said the strike could also impact the difference between spot and futures prices. “It’ll also kind of mess up basis, creating a lot of basis risk for farmers that they don’t have when things are moving slowly and predictably.” The National Milk Producers Federation and U.S. Dairy Export Council are calling on the Biden Administration to bring both sides back to the table. The dairy groups said the strike jeopardizes $32 million in dairy exports each week.