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Year-to-date through August, US beef imports rose about 21%, while beef exports fell about 3.6% with weaker demand from China and Korea. A strong US dollar and rising Australian supply are also cited as reasons cattle markets have not set new record highs.
Heavier imports and a strong dollar cap US beef export demand and add supply, which limits upside in live cattle prices.
beefmagazine.comOct 16, 2024Not enough comparable past events yet for a historical read.
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.
