Beef From the United States to China?
Kevin Ernst is a commodity broker with Chiodo Commodities I talk with each day in the noon report. A few days ago, he mentioned that beef prices were sharply higher because of talk that soon the U.S. would be able to export beef to China. We export a lot of beef to Japan and Mexico but not China. China has a population of 1.4 billion people, with a growing middle class that is larger than the entire population of the United States. So, what happened that that we may now may be allowed to export beef to China?
Today I received a news release from Ashley Kohls, executive director of the Minnesota State Cattlemen's Association. Recently the "Trump administration announced that one of ten initial actions of the U.S.-China Economic Cooperation 100-Day Plan includes restoration of U.S. access to China." There is one more round of technical consultations between the U.S and China before the U.S would be allowed into China, but no later than July 16. This is very good news for dairy and cattlemen in Minnesota!