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Pressure is mounting on the Australian government to intervene in the dispute between the Maritime Workers Union and DP World, which has left a backlog of about 55,000 containers. DP World puts the economic cost at $84 million a week, and meat, dairy, grain and other exports are held up at terminals.
A prolonged backlog or government intervention would affect export timing for Australian grain and meat, and the outcome could influence how quickly delayed cargoes reach buyers.
abc.net.auDavid Claughton, Michael Condon, Kim Honan, Angus VerleyJan 23, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 823 past logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +1.2%), and -0.1% 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.
