In the new U.S./China trade agreement, full farm to plant tracking for cattle is eliminated, Allendale said. “Previously, China banned beef from cattle fed growth hormones,” they said. “This agreement allows them to be used, as long as internationally-accepted maximum level residue limits are used. Both of these changes are very positive.” However, Allendale said it has yet to be determined if there are specific volumes of beef included in the trade deal.

With the China agreement signed, the market grew concerned about comments from the Chinse Vice Premier that Chinese firms will buy American products “based on market conditions,” The Hightower Report said.