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Australian heavy steer indicator reached 310c/kg lwt, the first time above 300c/kg in over two years, as kill floors run at elevated levels and supply of slaughter-ready grassfed cattle is limited. Australian prices have moved closer to US levels while diverging from Argentina and Brazil, whose cattle have become cheap due to currency depreciation.
Tight Australian supply and strong export demand, especially from Japan and Korea, support beef prices and export competition with the US, while weak South American currencies keep those cattle cheap in global terms.
mla.com.auJul 18, 2019Not enough comparable past events yet for a historical read.
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.
