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China's yuan has weakened amid portfolio outflows. The outflows are attributed to rising US interest rates, the war in Ukraine, and a slowing domestic economy hit by COVID-19 lockdowns in Chinese cities.
A weaker yuan raises the cost of imported feed ingredients priced in dollars for Chinese buyers and can dampen import demand. The effect on global feed prices is modest unless the currency move deepens.
reuters.comMay 11, 2022After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
