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Rabobank's quarterly beef report says Chinese beef imports in the first half of 2019 rose over 50% year on year despite the US-China trade dispute. Australian cattle herd is at a 20-year low of about 26 million head, with slaughter up about 14%.
Strong Chinese import demand and a shrinking Australian herd support global beef and cattle prices. Tight Australian supply tends to firm export beef prices.
meatpoultry.comJoel CrewsAug 29, 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.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% 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.
