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ABARES forecasts Australian saleyard cattle prices for 2018-19 to average 435c/kg carcase weight, a 4% drop on 2017-18 and slightly higher than its September projection. The improvement reflects stronger Chinese demand for protein after African swine fever cut China's pig supply.
Falling beef export prices still weigh on the outlook.
A smaller expected price decline in Australian cattle, driven by Chinese protein demand, modestly supports global beef and feed-demand expectations.
beefcentral.comBeef CentralDec 10, 2018After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% 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.
