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Indonesia's government is focused on lowering beef prices and pursuing self-sufficiency, which is challenging Australia's position as its main imported red meat supplier. About 70,000 tonnes of Indian buffalo meat entered Indonesia between July 2016 and April 2017, and about 30,000 tonnes remained in warehouses in April.
Sales have run at 7,000 to 8,000 tonnes per month since December 2016.
Indian buffalo imports are taking share from Australian beef and live cattle in Indonesia, which weighs on Australian export demand and prices. The impact on global grain and feed markets is minimal.
mla.com.auMay 8, 2017After 288 past trade events, Live Cattle moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.1%), and +1.0% over 20.
After 171 past trade events, Feeder Cattle moved a median +0.3% over 5 sessions (55% higher; middle half -1.3% to +1.8%), and +1.2% 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.
