News

China demand “a $64 billion question”

Demand uncertainties are swirling as China relaxes COVID restrictions.

Iowa State University Extension ag economist Chad Hart suggests U.S. export projections are muddy at best.

“I think that is a $64 billion question. I think as we look there, we know that COVID is having a major impact, but they are also trying to open up. So you’ve got things pulling in both directions right now.”

His guess is demand will resemble 2022.

“We did see a rebound in sales for most commodities going into China, there were a couple big exceptions though. Probably the biggest ones would be corn and pork.”

Hart says there’s been an uptick in beef demand and soybean sales to China are up about 10 percent year over year.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!

Brownfield Ag News