Global beef digest: US net sales trend downward
Read the latest global beef industry updates from Jim Wyckoff.
14 August 2020
2 minute read
US beef net sales of 11,600 MT reported for 2020 were down 13 percent from the previous week and 46 percent from the prior 4-week average. Increases primarily for Japan (2,900 MT, including decreases of 500 MT), China (1,900 MT), Canada (1,400 MT, including decreases of 100 MT), Hong Kong (1,300 MT, including decreases of 100 MT), and South Korea (1,200 MT, including decreases of 600 MT). Exports of 16,800 MT were down 4 percent from the previous week, but up 1 percent from the prior 4-week average. The destinations were primarily to South Korea (5,500 MT), Japan (4,800 MT), Taiwan (1,500 MT), Mexico (1,100 MT), and Hong Kong (1,000 MT).
China will honour Phase 1 trade deal, central bank chief says
Vice-Premier Liu He is expected to hold a video conference on 15 August with US Trade Representative Bob Lighthizer and Treasury Secretary Steven Mnuchin to discuss the trade deal reached in January.
Central bank governor Yi Gang said Wall Street trading firm will be allowed to have exclusively owned brokerage operations in China. China’s promised purchases of US farm products have picked up significantly in recent weeks, but are still far off the pace needed to tally $36.5 billion during the first year of the accord.
Read the poultry meat digest on The Poultry Site and analysis of the global pig market on The Pig Site.
-- Words by Jim Wyckoff.
