Not sure if it means anything but last night on the 7.30 report there was discussion about Indonesia wanting to reduce its dependency on Australia cattle due to price. They plan to import frozen buffalo from India. This may help to alleviate margin pressure on wellard from Australian sourced cattle. I understand Indonesia is only a percentage of wellard market but it all adds up. Anyways not sure anything will happen fast or even successfully given the Indonesians but could have been a catalyst for those paying attention.
WLD Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
