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Container ship anchorage waits outside Southern California ports reached 8.5 days, with 47 ships waiting, near record levels. Congestion is also growing at Oakland, the Gulf and Savannah, and Shanghai-bound container rates were up 180% year over year.
Port delays limit how much dairy cargo can be loaded on outbound ships, which weakens US export flows and pressures dairy prices. High container freight costs also raise the landed cost of imported feed.
en.edairynews.comDamián MoraisSep 30, 2021Not enough comparable past events yet for a historical read.
After 414 past bearish events of any kind, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.7% to +0.5%), and -1.5% 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.
