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The Mexican peso dropped 0.8% to 18.79 per dollar, its lowest in nearly seven weeks. Weak Q2 GDP growth of 0.2%, below the 0.4% forecast, fueled speculation about central bank rate cuts, and other Latin American currencies also softened.
A weaker peso raises the local cost of imported US feed ingredients, which can slow Mexican buying. Expected rate cuts and softer growth point to slower domestic livestock and feed demand.
finimize.comFinimize NewsroomJul 30, 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.
