CENTENNIAL, Colo. -- Colorado beef producers are hoping to sell their products to the fast-growing market in China.
Since 2003, Colorado beef has been banned from China amid disease concerns, but that's expected to change soon, under an agreement reached by the Trump administration.
“China has one-fifth of the world's population. They have a middle class that is larger than the population of the United States,” said Kendal Frazier of the National Cattlemen's Beef Association.
It's hard to pinpoint exactly how much more revenue it will bring to our state, but industry leaders say China has increased imports over the last five years.
Don't expect to see new ranches in Colorado, but existing ranches could expand under this new agreement.
When it comes to the grocery store, production is strong, so your flank steak won't necessarily soar with more exports.
"We'll produce enough in the United States to meet the demand for both the domestic market, for somebody who wants to go out and cook that steak Memorial Day weekend or somebody who lives in Asia who wants one of our steaks too," Frazier said.
With drought conditions improving and strong production, beef prices are expected to be competitive during the Memorial Day holiday weekend.