Siam Commercial Bank strategists said the baht strengthened quickly to near 33.00 per dollar after the US postponed tariff increases, driven by a weaker dollar. They expect the baht to weaken again in the short term toward 33.50-34.50 per dollar, and they expect the central bank to cut rates in the second quarter.
Currency swings in the baht affect Thai import costs for feed ingredients, but the link to global feed prices is indirect.
Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.