Farms.com Home   Ag Industry News

Boost in US meat trade with China following new approvals

By Jean-Paul McDonald
Farms.com

In a landmark move for the U.S. meat industry, China has approved 18 beef and 12 pork establishments from the U.S. for export. This long-awaited decision is a result of the streamlined process established by the U.S.-China Phase One Economic and Trade Agreement, which has been in effect since early 2020. The recent approvals end a 10-month hiatus, providing a major boost to the U.S. meat export sector. 

The agreement between the U.S. and China has greatly facilitated the registration and approval processes for meat establishments. This development reflects the ongoing commitment to the Phase One Agreement, under which the U.S. Department of Agriculture's Food Safety Inspection Service's approvals are recognized by China. Despite a pause in updates earlier this year, this new round of approvals has reignited optimism for future growth and collaboration. 

China remains a key market for U.S. meat exports. Although beef shipments to China have seen a decrease compared to the record levels of 2022, China is still the fourth largest importer of U.S. beef. The outlook for this market segment remains promising.  

Even though muscle cut shipments are experiencing a downtrend on the pork front, China continues to be the prime market for U.S. pork variety meat exports, with a notable increase in exports this year. 

The recent plant approvals have significant implications for the U.S. meat industry. They not only demonstrate the resilience and potential of the U.S. as a leading meat exporter but also highlight the critical role of international trade agreements in shaping the dynamics of global markets.  

With these new developments, the U.S. meat industry is poised to strengthen its position in the global arena, particularly in the lucrative Chinese market. 


Trending Video

U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!