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Container freight rates have fallen about 36% from their August multi-year peak as seasonal demand slows. The Global Container Freight Index remains more than twice its year-ago level, and Red Sea disruptions continue with Suez transits about 65% below last year.
Easing container rates signal some relief in shipping costs, but rates remain elevated, so ocean freight for bulk feed ingredients stays expensive relative to pre-crisis levels.
crugroup.comAuthor Cristobal Arias Steel EconomicsSep 13, 2024Not enough comparable past events yet for a historical read.
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.
