Loading…
The DOE/EIA retail diesel average rose 5.1 cents to $5.185 per gallon, the second-highest on record. ULSD futures fell 33.12 cents in one day, the second-largest drop in the contract's history, as COVID lockdowns in China raised demand concerns.
Falling futures on weaker Chinese demand point to lower near-term diesel costs, though retail prices remain elevated. Feed buyers face continued freight and processing cost volatility.
freightwaves.comJohn KingstonMar 28, 2022After 79 past bearish macro events, ULSD / Diesel moved a median -1.0% over 5 sessions (39% higher; middle half -5.7% to +1.7%), and -1.5% 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.
