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Australian heavy steer prices are around A$3.50 a kilo, below recent peaks but above last year's low of A$2, according to Meat & Livestock Australia. Australia is benefiting from strong beef export demand as the US cattle herd shrinks.
A smaller US herd and firm Australian export demand support global beef prices, which tends to lift cattle values in both exporting and importing markets.
reuters.comPeter HobsonOct 17, 2024After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% 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.
