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Rabobank's Beef Quarterly report says US and Canadian cattle prices have reached record levels as beef production declines and demand stays firm. Analysts expect global beef output to stay balanced, with rising Brazilian and Australian supply offsetting US declines.
Lower US and Canadian beef output combined with firm demand supports North American cattle and feeder cattle prices. Producers may sell replacement heifers, which could further tighten supply.
capitalpress.comCAROL RYAN DUMASCapital PressJun 5, 2023After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
