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Demand for feed grain has pushed Australian domestic prices toward four-year highs, with Darling Downs feed wheat up $62/t to $397/t since April. MLA cites dry US and European conditions and a US wheat crop forecast down 6% to the smallest since 2002.
Lower global wheat output and dry Australian conditions tighten feed grain supply, supporting higher feed costs for feedlots and livestock producers.
mla.com.auMeat & Livestock AustraliaJun 1, 2018After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 80 past bullish weather events, LCATTLE moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% 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.
