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Goldman Sachs said in a research note that the rand may gain further against the dollar this year, supported by easing interest rates and firmer public finances. The currency ended 2025 nearly 13% stronger, its biggest annual gain in 16 years.
A forecast of continued rand strength would gradually lower South African import costs for dollar-priced feed ingredients, though the effect is a forecast rather than a new supply or demand shift.
reuters.comColleen Goko, Anathi MadubelaJan 8, 2026Not 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.
