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The US-China 100-day trade talks are due to end on July 16 and have produced early results, including the reopening of US beef sales to China. China has also approved two of eight US biotech applications.
Bloomberg reported that major breakthroughs look less likely given tensions over North Korea and rhetoric from Xi Jinping.
Limited progress in the talks lowers the chance of large new US farm purchases beyond those already signed. Beef market access supports cattle sentiment only modestly.
farmprogress.comBloombergJul 6, 2017After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% 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.
