Global feed production is at an all-time high. In the 2019 Global Feed Survey, Alltech estimates a 3% growth to 1.068 billion metric tons of feed produced.
Rabo AgriFinance says the live cattle and feeder cattle markets are out of balance right now; a sign that lower feeder cattle prices could be on the horizon.
Japan stops buying some Chinese rice straw on swine fever risk and the feed is vital for Wagyu. It could result in a supply loss may boost Wagyu price.
President Donald Trump plans to to implement the previously delayed tariff increases on Chinese goods on Friday, raising tariffs from 10% to 25% on $200 billion worth of goods.
Prime Minister Justin Trudeau said on Tuesday that Canadian beef and pork exports to China will resume, ending a nearly four-month-long trade dispute with Beijing.
According to a report from the United Nations, meat production is expected to fall for the first time in two decades because of pork production declines. Thee is still expected to be growth in chicken and beef.
Total beef consumption in China in 2018 is estimated at 8.5 million metric tons, second only to the U.S., according to the USDA Foreign Agricultural Service.