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Meat & Livestock Australia has raised its 2019 adult cattle slaughter forecast to 8.4 million head, up 7% on last year. Female slaughter remains at 54% of the total, and the national herd forecast for June 2020 was cut to 25.5 million head.
Tighter Australian cattle supply and higher slaughter support global beef prices, especially as China demand is strong, though falling carcase weights partly offset the effect.
beefcentral.comBeef CentralOct 28, 2019After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% 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.
