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R-CALF USA says third-quarter 2020 US beef imports exceeded one billion pounds, the highest third-quarter volume in at least two decades. The group ties this to fed cattle prices falling to a decade-low monthly price of $95.33 in July 2020 and cites its ongoing antitrust lawsuit against major packers.
Historical data on import surges and depressed fed cattle prices is backward-looking, but it supports the argument that imports weigh on domestic cattle values.
r-calfusa.comadminMay 8, 2021After 78 past neutral report events, Live Cattle moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% 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.
