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Taiwan will ease restrictions on US pork containing ractopamine and on US beef from animals older than 30 months, as a trade step toward Washington. USDA data show China booked a record weekly US beef purchase of 3,315 metric tons for the week of August 16, plus 747,000 metric tons of US corn.
Expanded export access and record Chinese purchases of US beef, pork and corn support domestic US prices. Taiwan's easing adds to demand for US red meat.
fair-cattle-markets.comMackenzie JohnstonAug 31, 2020After 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 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.
