Key Takeaways:
The U.S. herd is stabilizing, but growth remains modest. Total goat inventory rose 1 percent in 2026, while meat-goat numbers increased 2 percent, which is not enough to materially reduce import dependence. Domestic slaughter is rising from a low base. Commercial slaughter increased about 12 percent from 2022 to 2024, but production remains below its 2008 peak and constrained by processing capacity, marketing gaps, and high costs. Australia increasingly dominates U.S. supply. Australian goat slaughter reached a record 4.05 million head in 2025, and production has roughly quadrupled since 2020, reinforcing Australia’s position as the leading U.S. import supplier. Rapid Australian supply growth has lowered import prices...
What You Need to Know: U.S. fertilizer production is highly concentrated, but concentration alone does not establish that producers are operating as a cartel. Imports introduce competition unevenly: they supply nearly all U.S. potash consumption but play much smaller roles in domestic ammonia...
Given yesterday’s headlines, today’s market action may not be what many expected. The dollar is little changed, crude oil is pulling back and stocks are trading higher. Crude may be the biggest piece of today’s reversal. Saudi Arabia is offering additional crude to Asian buyer...
Key Takeaways: Managed money is holding more than one million net-long contracts across agricultural markets, with corn, soybeans, and soymeal all reaching record net-long positions in September. Fundamental concerns surrounding yields, supplies, and global availability have helped justify the...
