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Bipartisan members of Congress oppose Paraguayan beef imports, and Senators Tester and Rounds introduced a bill to halt them and create a working group on risk. The USDA final rule was issued November 14 and took effect December 14.
Legislative opposition could delay or reverse Paraguayan beef entry, limiting added import supply and leaving US cattle prices supported in the near term.
dtnpf.comChris ClaytonDec 4, 2023After 17 past bullish policy events, Live Cattle moved a median -0.0% over 5 sessions (47% higher; middle half -1.2% to +0.9%), and +1.0% over 20.
After 10 past bullish policy events, Feeder Cattle moved a median +0.4% over 5 sessions (60% higher; middle half -0.9% to +2.2%), and +0.3% 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.
