Animal protein prices are mostly declining even though there was a consumer rush to hoard supplies ahead of COVID-19 lockdowns. An economic recession generally dulls consumption of higher cost per calories products. With restaurants closed, the price of products heavily used by these outlets like bacon and cheese are plunging. Bacon prices are reportedly down 29 percent. The FAO dairy price index was down 3 percent in March from a month earlier. Yet prices are not acting completely rational. The FAO’s meat price index has been declining for three straight months, well ahead of any known adverse impacts in most countries. Norwegian salmon prices also fell during Q1.
Yet there is an argument that some of the declines are over-wrough...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
