Taiwan paved the way for an eventual free trade deal with the United States on Friday by announcing an easing of restrictions on the import of U.S. beef and pork, as they look to boost ties with Washington.
Fears of the coronavirus continue to haunt the stock market despite the Federal Reserve’s efforts to calm it. Live cattle prices have dropped to numbers producers and traders haven’t seen in nearly a decade.
Given the buying power of California’s consumers, Proposition 12 is effectively setting standards for pork and veal producers in other states and in foreign countries that wish to sell meat in California.
China made its largest weekly U.S. beef purchases on record last week, followed by its biggest U.S. corn deals in almost a month this week, according to U.S. Department of Agriculture data released on Thursday.