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Peru has banned anchovy fishing for 10 days, which is likely to bring the current fishing season to a close. The ban is a regulatory measure that cuts landings during the season.
Anchovy is the main raw material for fishmeal, so a fishing halt tightens global supply and supports fishmeal prices. Buyers relying on fishmeal in feed should expect firmer prices and possible substitution toward soybean meal.
undercurrentnews.comLouis HarkellJun 28, 2019Not enough comparable past events yet for a historical read.
After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% 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.
