09.20.2024
BOHO spread reaches two-month high
The BOHO spread rose sharply on Friday September 20 to its highest since late July, as October soybean oil futures on the Chicago Mercantile Exchange traded higher and ultra-low-sulfur...
The U.S. Federal Reserve stopped short of another rate hike last week, taking a wait-and-see approach to monetary policy. Though fluid, economic indicators point to a soft landing, as the economy continues to outperform expectations despite historic inflation. This is good news for organic animal protein markets, and associated feed markets.
The U.S. Federal Reserve originally projected rate cuts to occur in 2024, and if so, these will be nominal cuts to the current 5.25-5.50 percent policy rate. Inflation remains well away from the target two-percent rate, but the fact that unemployment figures have remained so low despite routine rate hikes reveals a lot about the resiliency of the current economy.
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