
Rabobank's Q3 Beef Quarterly says US beef export demand is robust, driven by a global shortage and rising demand from China and Southeast Asia. The bank noted US steer prices are 25% above 2020 and 8% above the five-year average, and expects better fed cattle prices for Q4 and 2022.
Strong export demand and a tighter global beef supply support US fed cattle and feeder prices, and the outlook for higher replacement cattle values supports the cattle complex.
After 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.
After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% 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.