Stockgrowers hear about deal to sell beef to Chinese company

BILLINGS, Mont. (AP) - Leaders of the Montana Stockgrowers Association told association members about the terms of a recent agreement to sell Montana-raised beef to China’s largest online retailer during the organization’s annual convention in Billings.

The nonbinding agreement reached in November calls for Montana ranchers to sell about $70 million worth of beef to JD.com next year. The total agreement calls for selling $200 million worth of beef over three years and for JD to invest $100 million in a Montana meat packing plant. A location hasn’t been determined.

The Billings Gazette reports Stockgrowers president Bryan Mussard said Thursday he expects non-member ranchers also will supply cattle for the Chinese market, with a per-head charge to support the association’s marketing efforts.

Miles City rancher Fred Wacker said specifics for 2018 sales are to be mapped out next month.

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Information from: The Billings Gazette, http://www.billingsgazette.com