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Australia's national cattle herd is at its lowest in almost 30 years and the sheep flock at its lowest since 1904, after drought, bushfires and floods. With coronavirus closing state borders, restocking is harder, and livestock prices are at record levels while many farmers carry debt.
A shrinking Australian herd keeps beef and sheepmeat supply tight and prices high, though it has little direct effect on feed grain demand. Restocking constraints may keep cattle prices firm for longer.
abc.net.auDavid ClaughtonMar 24, 2020After 80 past bullish weather events, LCATTLE moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), 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.
