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Chinese authorities have confirmed 131 deaths and nearly 5,500 coronavirus cases, and travel restrictions and stay-at-home orders are keeping Chinese consumers from dining out. Australian exporters expect weaker beef demand in China, which took about 24% of Australian beef exports in 2019.
A sharp drop in Chinese restaurant and retail demand would reduce import demand for beef and live cattle. That would pressure export prices and cattle values in exporting countries.
beefcentral.comJon CondonJan 29, 2020After 70 past bearish disease events, Live Cattle moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.0%), and +0.4% 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.
