
The US Dollar Index climbed to fresh 19-month highs and rose for a third straight week, driven by rising bets on further Federal Reserve tightening. Markets expect the next rate increase in December, with some pricing for a larger hike after hotter-than-expected October inflation.
Treasury yields rose alongside the dollar even as crude oil prices fell.
A stronger dollar makes dollar-denominated feed ingredients and grains more expensive for buyers outside the US and can weigh on US commodity export competitiveness. Higher US rates also raise financing costs for the feed trade.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.