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New Zealand beef export prices for imported US product have fallen as US cow inventories reached a nine-year high and cattle futures declined. The price for imported 95CL bull dropped from about US$2.38/lb to US$2.27.
Japan also raised its frozen beef tariff temporarily from 38.5% to 50%.
Larger US cow herds and weaker US import demand point to lower beef import prices and softer US cattle futures. Higher Japanese tariffs add pressure on export flows.
farmersweekly.co.nzAnnette ScottAug 6, 2017After 121 past bearish trade events, Live Cattle moved a median -0.6% over 5 sessions (40% higher; middle half -1.6% to +0.8%), and -0.3% 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.
