
The US dollar rose as tariff uncertainty weighed on sentiment. Markets were pricing in 58 basis points of Federal Reserve easing by year-end, with a cut of at least 25 bps not exceeding 50% probability until the June meeting.
A firmer dollar makes US feed grains and meals more expensive for overseas buyers, which tends to pressure US export prices. Less Fed easing keeps financing costs high for feed inventories.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.