Cattle producers in the US are putting their hopes on Asian markets
Some of the latest crop reports released by USDA mentioned that cattle producers are feeding their herds with corn instead of wheat which is beneficial for the animals. The livestock sector is expected to expand in this period as China has opened the market to US beef, said Doug Werling of Bower Trading, Inc., cited by Drovers.
"We have seen the overall expansion supply in the US be supportive and help support prices because of the global growth situation. Once you get a taste for that, and you have more money, you’re not going to go back on it", believes the trader.
Werling is also expecting that the demand in Japan for US beef to increase this year as the trade tariffs imposed by Japanese officials for US frozen beef to be lifted in March.
(Photo source: Pixabay)
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