China makes headway on meeting Phase 1 trade agreement goals

Agriculture

Cold weather and snow in parts of the central plains making for an early start to winter feeding season for the nation’s cattlemen. Between the cold and recent drought conditions, cattle are finding their way to feedlots and if it doesn’t rain soon, winter pastures, including wheat fields often grazed in the southern plains, could be too dry.

Derrell Peel, Livestock Marketing Specialist, OK State said, “If we don’t get some significant moisture in just the next few days then we’re really going to lose possibilities for decent winter forage.”

That could push more cattle in already full feedlots. USDA says as of October first there were a record number of cattle on feeding many of those part of the backlog caused by the COVID outbreak in the spring.

New numbers from Washington shows China has met roughly 71 percent of its purchase targets in the Phase 1 trade agreement. The report shows China has purchased more than $23 billion in agricultural products so far. Several highlights include U.S. corn and pork sales to China are now at an all-time high. Soybeans sales are on the strongest start in history, and beef exports through August were more than triple the total for 2017.

And Restaurant chains, cracker barrel, golden corral, and White Castle have filed a lawsuit against several big poultry processors including Tyson Foods and Pilgrim’s Pride. The restaurants want the money back on purchases of chicken following recent indictments on alleged price-fixing. They claim it’s been going on since 2012.

For more ag news watch AgDay, weekdays on this station. Or anytime at agweb.com.

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