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Beef Web reports that cattle markets have not reached new record highs, citing a 20.87% rise in beef imports January through August, mainly from Brazil paying US tariffs, and higher feeder cattle and slaughter-animal imports from Mexico. Beef exports to China fell, and the strong dollar weighed on export demand.
Heavier beef and cattle imports add supply that caps US cattle price gains, though expected stockpiling for 2025 may limit the downside.
beefweb.comTanya EadieNov 6, 2024After 121 past bearish trade events, Live Cattle moved a median -0.6% over 5 sessions (40% higher; middle half -1.6% to +0.8%), and -0.3% over 20.
After 87 past bearish trade events, Feeder Cattle moved a median +0.4% over 5 sessions (54% higher; middle half -3.2% to +1.9%), 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.
