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USDA's Foreign Agricultural Service released its biannual Livestock and Poultry: World Markets and Trade report, forecasting China's 2018 beef and broiler imports to rise 11% and 7%, while pork imports decline for a second year as domestic output recovers. US broiler exports to China remain blocked by avian influenza restrictions, and US beef access reopened in May 2017.
Stronger Chinese beef and broiler import demand supports those markets, while falling pork imports reduce demand for global pork. US chicken export access remains restricted, limiting its ability to capture the growth.
farmpolicynews.illinois.eduKeith GoodOct 15, 2017After 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.
Not enough comparable past events yet for a historical read.
After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% 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.
