Record Demand Despite Tariffs

Even with the 90-day de-escalation of tariffs between China and the U.S., U.S. meat exports to China have ground to a halt.  “In the case then of China, that’s our third best customer, and we now are sending them no beef, pork, or chicken,” said Tim Petry, livestock economist, NDSU Extension. “Tariffs as high as 147 percent have been reduced to 32 percent, but China has not approved any packing plants for beef, so no beef is going there, even though it’s only 32 percent tariffs.” International demand from other parts of the world remains strong. “From a price standpoint, we are moving product to those other countries in very good quantities. In some cases, like Korea, maybe even a little bit higher on beef, and continue to move at record high levels. Demand is holding very, very well.”