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New Zealand analysts expect a wave of US beef production to reach the market over the coming months and pressure import prices. US prices for imported beef have already dropped about 5 US cents per pound in a week.
Australian dry conditions have pushed production higher, and exporters are accepting lower US pricing.
Rising US beef supply cuts demand for imported beef, which weakens export returns and may pressure US cattle prices. This is routine price commentary with limited new cause.
farmersweekly.co.nzAlan WilliamsAug 17, 2017Not 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.
