Wednesday, November 8, 2017

U.S. has huge meat sale to China

United States has landed a huge meat sale to China via Chinese company JD.com and Smithfield Foods whose owner is WH Group of China.

The agreement commits JD to buy at least $200 million worth of beef over three years at fair market prices and to buy about $1 billion worth of pork from Smithfield, also over three years.

It’s part of a deal JD.com has made to purchase $2 billion worth of goods from the U.S. over three years. Those purchases can be a wide range of goods.

Montana beef producers will get a huge boost from the deal that will increase its beef exports by about 40 per cent.

The $200-million beef deal is with Cross Four Ranch and Montana Stockgkrowers Association.
U.S. Secretary of Commerce Wilbur Ross, Jr. and Chinese Vice Premier Wang Yang were at the signing ceremony.