The North American Agribusiness Review for April 2023, provided by one of our investors Rabobank.
It gives a market outlook for dairy, cattle, wheat, and other key commodities and an overview of what developments to watch in the upcoming months in North America.
See the full review: https://research.rabobank.com/far/en/documents/893100_Rabobank_North-America-Agribusiness-Review_Apr2023.pdf
It gives a market outlook for dairy, cattle, wheat, and other key commodities and an overview of what developments to watch in the upcoming months in North America.
- Economy: The recent banking turmoil has complicated monetary policy for the Fed.
- Logistics: Reefer rates are strong while dry container rates are tumbling.
- Consumer Retail and Foodservice: Slowing inflation but persisting pressure on consumers’ pockets.
- Cattle: Market prices reach new highs in the US and Canada on tighter cattle supplies and adequate demand.
- Corn: Planted area is expected to increase 4%, but all eyes are on the weather.
- Dairy: Lower prices persist as Northern Hemisphere output reaches its seasonal peak.
- Farm Inputs: Accelerated Changes in Farming Practices?
- Feed: Soybean meal prices remain strong.
- Fruit: elevated strawberry prices.
- Pork: Producers struggle as consumption continues to disappoint.
- Poultry: Chicken markets remain sluggish on depressed white meat sales.
- Soybeans: Strong prices, high interest rates, and uncertain demand prompt hand-to-mouth buying.
- Sweeteners: The balance sheet and sugar prices are not on the same page.
- Tree Nuts: Almond prices improved, then stabilized as the industry awaited the estimate for the 2023 crop.
- Vegetables: Inclement California weather causes disruption upstream and moves prices counter-seasonally higher.
- Wheat: Keep your head on a swivel.
See the full review: https://research.rabobank.com/far/en/documents/893100_Rabobank_North-America-Agribusiness-Review_Apr2023.pdf