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US natural gas prices fell 6.2% to about $3.20 per MMBtu, the lowest level in over three weeks. Forecasts of unseasonably warm weather across central and southern regions and a rise in Haynesville Shale rig activity weighed on prices.
Lower US gas prices reduce energy costs for feed mills and ethanol and drying operations, a mild bearish signal for feed input costs.
After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% 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.