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The US government has reopened imports of raw beef from Brazil, which had been banned, despite objections from cattlemen and food safety groups over meat quality. The decision is effective immediately.
More imported Brazilian beef adds supply to the US market, which modestly pressures domestic cattle prices and boosts demand for lower-cost trim.
apnews.comDAVID PITTFeb 21, 2020After 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.
After 87 past bearish trade events, Feeder Cattle moved a median +0.4% over 5 sessions (54% higher; middle half -3.2% to +1.9%), and +1.1% 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.
