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China imposed an 80 per cent tariff on Australian barley, which Victorian farmers say will leave them with limited export markets. The tariff followed a beef import ban on four abattoirs and was described as retaliation over an international coronavirus inquiry.
China historically takes the largest share of Australian barley, so an 80 per cent tariff sharply reduces demand and is bearish for Australian barley prices.
smh.com.auBianca HallMay 23, 2020Not enough comparable past events yet for a historical read.
After 121 past bearish trade events, Live Cattle moved a median -0.6% over 5 sessions (40% higher; middle half -1.6% to +0.8%), and -0.3% 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.
