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A Queensland meat processor says Australian beef prices could fall as much as 30 percent if US beef imports resume, which could happen as early as July after Food Standards Australia New Zealand assessed US mad cow risk as very low. Australia has barred US beef since 2001 and its cattle herd is depleted with record prices.
Renewed US beef access would add supply to Australian markets where cattle prices are near records, pressuring Australian livestock prices; US beef's large cold-storage inventories are a competitive threat.
abc.net.auMarty McCarthyFeb 7, 2017After 30 past bearish policy events, Live Cattle moved a median -0.8% over 5 sessions (43% higher; middle half -2.0% to +1.1%), and +0.9% over 20.
After 24 past bearish policy events, Feeder Cattle moved a median +0.3% over 5 sessions (54% higher; middle half -3.3% 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.
