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The USMCA trade agreement cleared its final hurdle and was headed for presidential signature, and Phase One of the US-China trade agreement had been signed. A livestock economist said these wins could lift livestock prices.
Signed trade deals improve export outlook for pork and beef, which could support hog and cattle prices and feed demand.
brownfieldagnews.comMeghan GrebnerJan 23, 2020After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% 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.
