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Indonesian feedlot oversupply from large feeder imports in August, October and November is pushing slaughter steer prices lower, with December quotes around Rp40,000 per kg live. Discounting in Jakarta supermarkets reflects weak demand, and the AUD weakness is partly offsetting rising northern Australian feeder prices.
Weak Indonesian slaughter prices reduce demand for Australian feeder cattle and may cap export pricing, while a weaker Aussie dollar helps exporters' competitiveness.
beefcentral.comGuest AuthorJan 15, 2019Not enough comparable past events yet for a historical read.
Not 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.
