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The rand strengthened below 17 per dollar for the first time since February 2023 after a mid-term budget update included a lower inflation target and an improved fiscal outlook. Stocks and bonds rallied, and yields on government rand bonds fell to their lowest in seven years.
A stronger rand reflects improved fiscal confidence and expectations of higher-for-longer rates, which can lower the local-currency cost of imported feed inputs. The effect on global feed prices is limited.
bloomberg.comMpho Hlakudi, Khuleko SiweleNov 13, 2025Not 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.
