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Rising US and Chinese competition for New Zealand manufacturing beef keeps US imported beef prices above year-earlier levels, while South African domestic beef demand is weak due to consumer spending restraints. South African class A, class C and weaner calf prices are all lower than a year ago.
Weak domestic demand and lower calf prices in South Africa point to soft local livestock values, while strong US import prices reflect tight manufacturing beef supply for American buyers.
farmingportal.co.zaFarming PortalJul 20, 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.
