Heard this bit this morning...
- US meat exporters are expecting beef export volumes to Japan to increase 24% this year. Japan currently only allows imports of US and Canadian beef from cattle aged 20 months or less but their Food Safety Commission is assessing the risk of easing the limit to 30 months. The US Meat Export Federation expects US beef exports to Japan to rise to 150,00 MT this year from 120,000 MT last year.
I think LCM has prob found support here, I dont expect new contract lows
It feels like gas prices and other economic factors will be the driver for domestic demand this year
If gas runs up to $4.50 in the Midwest this summer there won't be many steaks sold at the grocery store
