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Beef Central reports that Australian cattle prices are the highest in the world after two years of drought restricted supply. US beef is about 25% cheaper than Australian beef in Australian dollar terms, following a US beef surplus that pushed US prices lower.
A large Australian retailer has said it would stock US beef if access issues are resolved.
A wide price gap could open a window for US beef imports into Australia, adding competition for Australian beef. High Australian cattle prices remain supported by tight domestic supply.
beefcentral.comJon CondonAug 13, 2020After 65 past neutral trade events, Live Cattle moved a median +0.3% over 5 sessions (57% higher; middle half -0.5% to +1.4%), and +2.5% 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.
