As a consequence of global changes to trade policy, there are likely to be significant impacts on international agricultural trade. Clearly producers in the European Union (EU) will experience considerable changes to the structure of their industry, and for a country such as New Zealand, heavily dependent on agricultural exports, changes to policy and markets have the potential to significantly affect the economy. The potential competition from China in terms of agricultural commodities as well as its potential as an export destination for NZ are also important considerations. This paper presents an analysis of the impact of both World Trade Organisation (WTO) and Common Agricultural Policy (CAP) reform in the agricultural sectors of the EU, New Zealand, and China. The analysis covers the livestock sectors of these countries. The model used for this analysis is the LTEM (Lincoln Trade and Environment Model).