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ABARES' June quarter outlook expects Australian saleyard cattle prices to rise about 4% over the next 12 months to 556 cents/kg. The beef herd is at a 30-year low of 21.1 million head, and restocking will constrain turn-off, production and exports.
Improved pasture conditions after recent rain are noted.
Tight Australian supply and restocking support beef and cattle prices, and reduced export volumes could tighten global beef supply.
beefcentral.comJames NasonJun 15, 2020After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% 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.
