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Iowa Cattle Optimistic on China Exports

For the last five years, China has become the second largest beef importer in the world. Nearly taking in $2.5 billion in products every year.

And for the first time in 13 years that market may be open again to U.S. beef exports.

Iowa Cattlemen's Association CEO Matt Deppe says that means a lot to the Iowa industry and they're waiting for more information.

The U.S. says China's market could be open as soon as mid-July.

Deppe says the beef industry is optimistic, "Bottom line, there's 1.2 billion or 1.3 billion people in the country of China and even their middle class population is larger than the domestic population of our country. So when you think about volume of sales, value added to the gross value of a fed steer. It's a big deal."

Deppe says this also could help entering into the summer market. Beef producers are trying to sell fed cattle born in spring and there is a historical lull in the market at that time.