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The Reserve Bank of Australia raised its cash rate by 25 basis points to a 10-year peak of 3.1%, its eighth hike in as many months and in line with all 30 economists polled by Reuters. Governor Philip Lowe said further increases are expected but not on a preset path, and the next meeting is in February.
Higher Australian rates support the Australian dollar, which can affect the cost of Australian grain and meal exports priced in US dollars. The move is a macro signal rather than a direct change in feed supply.
brecorder.comReutersDec 6, 2022Not 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.
