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Oklahoma State's Cow-Calf Corner reports US beef exports were down 19.9% year over year in May and down 11.4% year to date. Exports to Japan and South Korea have fallen sharply.
Tighter cattle numbers and higher prices are expected to lower exports and raise imports.
Lower exports and higher imports reflect a tighter US cattle supply, which supports domestic cattle prices. Fewer exports also means more beef stays in the US market.
extension.okstate.eduJul 10, 2023After 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.
