Loading…
USDA-ERS forecasts 2023 U.S. beef exports unchanged at 3.09 billion pounds, down about 13% year over year. Beef imports are running 3% behind the record first-quarter 2022 pace, with declines from Mexico and Brazil partly offset by Canada, Australia and New Zealand.
Lower projected U.S. beef production and exports tighten exportable supplies and support cattle prices, while reduced imports from Mexico and Brazil leave less extra beef in the domestic market.
agproud.comHannah Brooks, Russell KnightFeb 24, 2023agproud.comHannah Brooks, Russell KnightFeb 24, 2023After 227 past bullish report events, FCATTLE moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 268 past bullish report events, LCATTLE moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% 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.
