# Price surge a surprise

> New Zealand imported beef prices for the US market reached record highs, with the 95CL bull indicator rising about 60% in a year to above US$3/lb. Chinese buying, partly to replace lost pork output, has pushed New Zealand beef exports into China higher.

- Date: 2019-11-21 · published 2019-11-21T12:00:00.000Z
- Category: market · region New Zealand · magnitude medium
- Page: https://feedsoft.ai/events/56006-price-surge-a-surprise
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Record imported beef values and strong Chinese demand tighten global beef supplies, supporting cattle and beef prices in exporting countries and encouraging farmers to hold back stock.

## Read by commodity

- LCATTLE: bullish ▲

## Sources

- farmersweekly.co.nz: https://www.farmersweekly.co.nz/news/price-surge-a-surprise/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.