Demand for US beef in China has been a game changer
China was a huge market US pork in 2020, but there’s also been solid growth in demand for US beef. In fact, November trade data shows beef exports to China actually grew more than pork exports.
University of Missouri livestock economist Scott Brown says the last couple of months of data suggests the US is now China’s number one grain-fed beef source. “I’ve said for a long time, some folks getting a taste of what US grain-fed beef is like, is a sure way to grow the demand for that product going forward,” he says. “It is a win for us.
He tells Brownfield if that continues, it adds optimism to his beef outlook for this year. “Because we know supplies likely get more in check as we get through 2021,” he says. “And then if you have China deciding that they want even more US beef products, that’s a win here from a price standpoint as we get further into the year.”