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Australian cattle prices have fallen by up to 64 per cent in recent months as producers offload stock during hot, dry conditions, and sheep prices have dropped up to 70 per cent. Retail beef prices have fallen only about eight per cent.
Australian cattle price weakness driven by drought-related destocking reduces producer feed-buying power in the near term, while the wide retail gap points to margin pressure rather than a quick supply response.
abc.net.auOct 24, 2023After 20 past neutral weather events, Live Cattle moved a median +0.4% over 5 sessions (60% higher; middle half -0.3% to +1.2%), and +3.0% 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.
