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US imported beef prices stabilised during the week as reduced trading followed a drop in fed cattle prices. Fed cattle futures fell 5% on lower cash prices, and fed cattle slaughter was 2.5% above last year's level for the same week.
Lower fed cattle futures and cash prices reflect softer near-term beef pricing, while firm overseas asking prices limit further declines in imported beef. Expected 2018 herd expansion adds to the medium-term bearish outlook for cattle.
mla.com.auNov 13, 2017Not 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.
