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USDA reports Australia's beef herd is rebuilding, with 2022 beef production forecast up 12% and exports up 13%. USDA also lowered Argentina's 2022 beef export forecast to 700,000 tonnes and cut its ending stocks due to drought and fires, and China's meat imports fell sharply in January and February.
Higher Australian beef exports add supply to global markets, while lower Argentine exports and weak Chinese imports shift global beef trade flows and price support.
thecattlesite.comGlobal Ag MediaMar 11, 2022After 78 past neutral report events, LCATTLE moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% over 20.
Not 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.
