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US beef and veal exports rose sharply in July, with year-to-date shipments 15% ahead of 2017 and strong gains to South Korea and Japan. Rabobank reports US beef prices have held up despite high production and rising supplies of total protein.
Strong US beef export demand supports US cattle prices, but a large domestic protein supply could push beef prices lower and pressure competing exporters such as Australia.
farmonline.com.auShan GoodwinSep 10, 2018After 65 past neutral trade events, Live Cattle moved a median +0.3% over 5 sessions (57% higher; middle half -0.5% to +1.4%), and +2.5% over 20.
Not enough comparable past events yet for a historical read.
After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% 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.
