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Dry conditions in eastern Australia are pushing feedlots to reconsider sorghum in rations for the first time in years. Quotes showed sorghum near A$362-365/t versus wheat at A$450/t and barley at A$410/t.
Growing feedlot demand for sorghum as a substitute for pricier wheat and barley supports sorghum prices and widens the spread that drives feed substitution.
beefcentral.comJon CondonJan 16, 2019Not enough comparable past events yet for a historical read.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
Not 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.
