
The US dollar traded near a 19-month high after October producer prices rose 6.5% year on year, the highest since November 2022. Markets have almost fully priced a December Fed rate increase, with a 25-basis-point move as the central scenario.
A strong dollar driven by expected Fed tightening raises the cost of imported feed inputs for non-US buyers and tends to pressure dollar-priced commodity prices, weighing on feed ingredient values.
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.