Vietnam

Scott Varilek of Kooima Kooima Varilek says cattle futures are trading higher building on Wednesday’s big reversal which was initially triggered by trade news but then better than expected cash trade added to the rally. Grains are also higher on hopes of an announced deal with China.

The deal, according to President Trump, allows the U.S. “total access” to Vietnam’s markets with a zero tariff on U.S. products exported to Vietnam.

The classification would have boosted exports and reduced tariffs on goods from country that is rising supply chain alternative to China.

U.S. red meat suppliers met face-to-face with buyers from the Philippines and Vietnam, adding a personal connection between USMEF members and exporters with importers and processors.