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Cottonseed prices are approaching levels seen in the 2019 drought as dry weather sets in and exports rise. Some producers are paying more than A$600/t and struggling to source supply.
Forecasts of a hot, dry summer and a possible El Niño are driving hedging purchases.
Drought-driven hedging and tight supply point to higher cottonseed feed costs for Australian buyers. Prices could fall quickly if rain improves conditions.
beefcentral.comEric BarkerAug 8, 2023
graincentral.comEric BarkerAug 8, 2023Not 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.
