The cease-fire of an escalating trade dispute between the U.S. and China is igniting hopes of a possible de-escalation drove markets to start of the week, despite retaliatory tariffs still being in place.
Despite the trade truce, Washington insiders believe the announcement will still come out this week. USDA Secretary Sonny Perdue is speaking Monday in Chicago, so that news could hit as early as Monday.
President Donald Trump said he would soon tell Congress of plans to terminate the existing North American Free Trade Agreement, a move that would give lawmakers a six-month window to ratify a new regional trade pact.
The Chinese agreed to buy a "not yet agreed upon, but very substantial amount of agricultural, energy, industrial" and other products from the United States to reduce America's huge trade deficit with China.
Face-to-face for more than two hours, President Donald Trump and Chinese leader Xi Jinping engaged in dinner diplomacy Saturday aimed at resolving a trade dispute between the world's two biggest economies .
Continued growth in U.S. beef production will keep the focus on beef demand in 2019. Beef production is slowing but is forecast to increase 1.5-2.0 percent year over year in 2019 to 27.5 billion pounds.