By far, Americans consume more animal protein than either China or the EU, but the composition is different. The Chinese and Europeans consume more pork per capita than the U.S., while Americans eat more beef and poultry.
However, the composition of animal protein in the diet has changed in both the U.S. and Europe in similar ways. Per capita beef and pork consumption has gone down over the past two decades at the same time poultry consumption has risen. More recently, per capita Chinese consumption of pork has declined due to African Swine Fever, but the lost production capacity is being rebuilt. If China is concerned about self-sufficiency at the same time it has limits to its feed production capacity, following the U.S. and Europe wit...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
