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President Trump removed baseline tariffs on Australian and New Zealand beef, returning them to pre-April levels, and also reduced tariffs on beef from Argentina, Uruguay and Brazil. Brazil's beef tariff was cut from 50% to 40%.
The White House cited the need to import products the US cannot produce in sufficient quantities.
Lower tariffs increase imported beef supply and compete with domestic beef, which is bearish for US cattle prices. The effect is partly offset by the very small US herd and tight domestic supply.
argusmedia.comGrace Dudley, Ed DunlopMar 25, 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 14 past neutral trade events, Feeder Cattle moved a median +0.1% over 5 sessions (50% higher; middle half -1.0% to +1.3%), and +1.2% 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.
