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Rabobank's Beef Quarterly says the global beef outlook is strong on favorable prices and higher consumption and production in Q2. It flags US drought stress affecting 70% of beef cows and tighter fed cattle supplies through Q4.
US drought reducing grazing and fed cattle supply supports cattle prices, while strong global beef demand supports the broader protein complex.
meatpoultry.comStaffMay 24, 2018After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% 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.
Rabobank's May 24 outlook flagged drought stress on 70% of beef cows and tighter fed cattle supplies through Q4, a bullish supply signal released on the move date.
