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South African beef and grain commentary notes that US grain prices rose sharply on concerns over wet weather reducing supply and quality. Local cattle farmers expect feed prices to rise as a result.
The report also covers beef cut prices and New Zealand lamb demand.
Higher US grain prices feed through to import-parity feed costs in South Africa and other importing markets. Rising feed costs can pressure cattle feeding margins and beef pricing.
farmingportal.co.zaFarming PortalJun 10, 2019After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
