Mexico and Canada reached an agreement with the U.S. for a 30-day
reprieve from the current administration’s tariffs. While Mexico did not list
nonfat dry milk (NFDM) as a potential target for retaliatory tariffs,
trade-related tensions have slowed commerce across the border. Domestic
buyers are wary of purchasing milk powder with the looming threat tariffs if
the trade disputes reignite. NFDM futures fell to the their lowest values since
last summer. While proposed tariffs have not been put in place yet, the
looming threat has already negatively impacted the U.S. dairy industry.