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Natural gas prices rebounded in mid-June after a sharp drop in early 2024 caused by a mild winter. By late June, US prices were about 80% and European prices about 25% above their March averages.
The World Bank expects 2024 prices to be well below the previous two years, with a recovery in 2025.
Higher natural gas prices raise the cost of nitrogen fertilizer and energy-intensive feed processing, which pressures feed margins. The expected lower 2024 average still points to cheaper feed inputs than in 2022-2023.
blogs.worldbank.orgPaolo Agnolucci, Matias Guerra UrzuaJun 28, 2024After 155 past bullish macro events, NATGAS moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% 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.
