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New South Wales graziers are buying large volumes of cottonseed from gins to supplement failing paddock feed as dry conditions spread. Export demand from China has not yet materialised, and cottonseed now trades at a discount to wheat.
Queensland and NSW cotton harvests are expected to produce more than one million tonnes of seed.
Drought-driven grazier demand is supporting domestic cottonseed prices even though export demand is weak. Feedlots are also shifting to wheat as a main feed grain, which adds competition for feed ingredients.
graincentral.comHenry WellsApr 17, 2018Not enough comparable past events yet for a historical read.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.
