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Peru slashed the first-season anchovy quota in the north-central zone over high juvenile numbers and adverse weather. Port closures are making it hard to judge where fishmeal prices will settle.
A deep quota cut removes a large share of seasonal fishmeal output, pushing prices higher and tightening supply for feed buyers.
Not 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.