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Feed additive suppliers warn that Chinese New Year shutdowns, plus record sea and air freight costs and congestion, will disrupt timely deliveries. The US dollar has weakened toward 2018 lows against the renminbi, with USD/CNY near 6.47, down about 6.1% over the year.
European and US producers with strategic stock are expected to benefit.
Record freight costs and port congestion raise landed costs for imported feed ingredients and additives. A weaker dollar against the yuan makes US-dollar purchases from China more expensive for buyers paying in dollars.
scceu.orgJan 15, 2021Not enough comparable past events yet for a historical read.
After 448 past bearish events of any kind, USDCNY moved a median -0.1% over 5 sessions (43% higher; middle half -0.4% to +0.2%), and -0.2% 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.
