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ABARES forecasts only a 7 percent rise in Australian saleyard cattle prices for 2020-21 and says high global beef prices will constrain herd rebuilding. Drought has left pasture recovery slow, and Chinese beef demand has been supporting prices despite coronavirus disruption.
Constrained Australian herd rebuilding keeps beef supply tight, supporting prices. Strong export demand from China underpins that outlook.
farmonline.com.auShan GoodwinMar 2, 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.
