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Natural-gas futures gained on January 25, 2019, as an intense polar cold blast was expected to close out January. Traders were concerned that cold could return in mid-February and that deliverability could tighten.
Cold-driven gas rallies raise energy and drying costs for U.S. processors and can lift ethanol and fertilizer input costs, adding to feed cost pressure.
After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% 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.