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The Australian dollar fell to about US64.39 cents, its lowest since early 2009 apart from a brief COVID dip, amid global growth fears and Fed tightening. Exporters say a weaker dollar helps competitiveness but is only partly offsetting losses on slaughter cattle.
A lower AUD improves Australian beef and lamb export competitiveness, which can support cattle prices, while the broad dollar strength weighs on global commodity values.
sheepcentral.comJon CondonSep 28, 2022Not enough comparable past events yet for a historical read.
After 18 past neutral macro events, Live Cattle moved a median +0.1% over 5 sessions (61% higher; middle half -1.0% to +1.6%), and +1.0% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
