U.S.-China Summit Was Great News For American Beef, Halstrom Says

As details from last week’s U.S.-China Summit in Beijing are being released, the American Ag industry is reporting a clearer picture what the future looks like.  Dan Halstrom, CEO of the U.S. Meat Export Federation said there was a “major” breakthrough when it comes to U.S. beef.

“Basically 425 plants were granted five-year extensions, which is what we’ve been waiting for, for almost a year now on most of these plants," Halstrom said.  "This is great news, it’s even better news for our customers in China who have been clamoring to resume access to U.S. beef. These customers are ready, willing and able to go."

We've Been Pushing For This For A Long Time

Halstrom added he was also encouraged by the White House’s announcement that not only would those plants be relisted, but USTR is working with China to address plants that have been suspended.

“So, that’s part of the announcement as well, to work on getting those other plants re-engaged as well; so some very good outcomes from last Friday," Halstrom said.  "We’ve been pushing for a long time, a year, to USDA and USTR to prioritize U.S. beef access into China, and that’s exactly what they have done.  Their persistence, they've stayed with it. I really want to give a shout out to Ambassador [Jamieson] Greer and Ambassador [Julie] Callahan and the rest of the USTR team, as well as USDA. It took a team effort to get this done, and thank goodness it came through for the benefit of our industry.”

China Will Have A Halo Effect

Halstrom added in addition to resuming direct exports to China, having access to the Chinese market pays additional dividends.  He pointed out that product mix is pretty common across Asia, Japan, Korea, Taiwan, as well as China, meaning U.S. beef will see a “halo effect on pricing for all of these markets”.

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