◂ Event Timeline

Feb 14, 2017REPORTUS

US beef production squeezes imports

The USDA raised its 2017 US beef import forecast by 15,875 tonnes to 1.24 million tonnes and its export forecast by 34,000 tonnes to 1.23 million tonnes. US beef production is forecast up 3.1 percent in 2017 as the beef cow herd grew 3.5 percent year on year.

WHY IT MATTERS

Expanding US beef output and herd size point to weaker US cattle prices and sustained competition in global beef markets, though strong export demand supports the outlook.

AFFECTSLCATTLE▼FCATTLE▼

SOURCE
farmersweekly.co.nzRNZFeb 14, 2017

Price reaction & history

LCATTLE▼bearishSO FAR1d +0.6%5d +0.8%20d +3.1%

After 144 past bearish report events, LCATTLE moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.

Dec 13, 2016US beef glut puts pressure on imports+1.6%
Dec 4, 2023USDA increases beef production forecasts - Grainews-1.8%
Sep 27, 2017U.S. prepared for expanding beef production - Morning Ag Clips+0.2%
Sep 25, 2018Increasing beef production: What it means for cattle prices+0.7%
Nov 20, 2017Competitor watch: Is the US nearing the top of its beef production cycle? - Beef Central-1.1%

FCATTLE▼bearishSO FAR1d +1.8%5d +2.2%20d +4.9%

After 126 past bearish report events, FCATTLE moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.

Dec 13, 2016US beef glut puts pressure on imports+1.8%
Dec 4, 2023USDA increases beef production forecasts - Grainews+0.4%
Sep 27, 2017U.S. prepared for expanding beef production - Morning Ag Clips+1.2%
Sep 25, 2018Increasing beef production: What it means for cattle prices+1.4%
Nov 20, 2017Competitor watch: Is the US nearing the top of its beef production cycle? - Beef Central+1.8%

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.

LCATTLE · GP ▸

——— · ·

FCATTLE · GP ▸

——— · ·

Loading…