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ING analysts expect a Fed rate cut of 25 or 50 basis points in September to benefit the Korean won. They see only modest won appreciation over the next year, with financial markets as the primary driver and Korean Treasury bond issuance rising sharply in 2025.
The forecast of modest won strength implies little change in Korean import costs for feed ingredients, so the impact on feed prices is limited. The note is a currency and bond outlook rather than a supply or demand event.
think.ing.comMin Joo KangSep 12, 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.
