Source: POLITICO'S MORNING AGRICULTURE, 3/10/20

Economists and trade analysts are casting doubt on China's ability to buy $200 billion in additional American exports over the next two years, including $80 billion in farm goods, under its mini trade agreement with the Trump administration as the world's two largest economies focus on fighting the coronavirus. The outbreak has slashed Chinese economic demand, global energy prices and weakened the transportation industry, experts told the Wall Street Journal.

The White House may be willing to give China some flexibility with the dates outlined in the phase-one pact, according to Bloomberg News, which cited a source familiar with the discussions. This is only an option if there isn't a jump in Chinese exports when the economic slowdown ends — in order to avoid widening the U.S. trade deficit that the president has long lambasted.

Agriculture Secretary Sonny Perdue told reporters Monday that he doesn't know yet how the virus will impact China's commitments. "Obviously there's some concern about whether or not they can comply with the numbers they agreed to purchase," he said on the sidelines of the School Nutrition Association's annual meeting in Washington. He added that a positive sign is how China has already reduced some technical barriers to trade, including for various dairy products.

Slumping beef demand: Market analysts expected cattle prices to continue climbing this year because consumers in Asia would eat more beef amid a shortage of pork caused by African swine fever. But so far this year prices have dropped about 16 percent due to fears that the coronavirus' economic toll will hit consumers' budgets and quarantines will keep them home with nonperishable foods, The Wall Street Journal reports.

Meanwhile, the stocks of meatpackers like Tyson Foods and JBS, as well as owners of steakhouse chains like Texas Roadhouse, have fallen sharply over the past two weeks.

Event changes, cancellations: The USDA Foreign Agricultural Service's trade mission to Morocco has been postponed following the detection of the coronavirus in the country, according to the agency . The trip, which was scheduled for March 16-19, was aimed at boosting U.S. farm exports to all of North Africa, including Algeria, Libya and Tunisia.

The 2020 Dietary Guidelines Advisory Committee will hold its fifth meeting — scheduled for Thursday and Friday — online only "out of an abundance of caution in response to travel restrictions imposed by some of the members' employers," USDA and HHS announced. It is the final meeting before the committee publicly shares its draft report, which is scheduled for May 11.

The Consumer Federation of America has postponed its annual National Food Policy Conference in Washington this week in order to prevent the spread of COVID-19. A new date has yet to be selected.