Port Strike Suspended, Negotiations Resume The International Longshoremen’s Association and the U.S. Maritime Alliance reached an agreement yesterday to suspend the East Coast/Gulf Coast labor strike that began earlier in the week and extend the current master contract until January 15, 2025. Ports were reopened today and negotiations between the two parties began again.
“This is a tremendous relief to everyone in the U.S. meat and livestock industries, as about $100 million worth of beef and pork products are exported every week through East and Gulf coast ports,” said U.S. Meat Export Federation (USMEF) President and Chief Executive Officer Dan Halstrom.
According to USMEF, 30% of waterborne U.S. beef exports are shipped through ports on the East and Gulf coasts. From these ports, U.S. beef products are bound for markets in Asia, the Middle East, Europe, Africa, Central America, South America and the Caribbean. Annual U.S. beef exports totaled $6.13 billion through July, accounting for $418.38 per head of fed cattle processed. These export markets add value to U.S. beef products that are not popular in the U.S., like tongues, livers and short plates.
East Coast ports also receive large volumes of beef imports in the form of lean beef trimmings that are combined with beef trimmings from U.S. cattle to produce ground beef. Lack of access to lean trimmings could impact the availability of ground beef in restaurants and grocery stores.