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Brazil's beef exports to China reached a record 65,827 tonnes in October, supported by 40 approved plants. Steer prices in Brazil rose from the equivalent of 253 to 329 c/kg between 1 and 22 November.
Strong Chinese import demand is pulling Brazilian cattle prices sharply higher, tightening global beef supplies and supporting cattle values in other exporting countries.
farmersjournal.iePhelim O'NeillNov 27, 2019After 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.
After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% 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.
