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Hancock Prospecting plans to export 150,000 head of live cattle from Australia to China by end-2018, possibly rising to 300,000. Rabobank analyst Angus Gidley-Baird questions what price Chinese importers will pay and notes China's history of careful beef buying.
Additional Chinese demand for Australian live cattle could support export prices, but China's price sensitivity may cap gains. The effect is more relevant to Australian cattle than to US feed demand.
queenslandcountrylife.com.auAngus Gidley-Baird, Senior Analyst, RabobankNov 6, 2017After 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.
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.
