This periodical update provides a market outlook for dairy, cattle, wheat, and other key commodities, and gives 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 strong while dry container rates tumble.
– Consumer Retail & Foodservice: Slowing inflation but persisting pressure on consumers’ pockets.
– Cattle: Market prices make new highs in the US and Canada on tighter cattle supplies and adequate demand.
– Corn: Planted area expected to increase 4% but all eyes on weather.
– Dairy: Lower prices persist as Northern Hemisphere output reaches 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: Balance sheet and sugar prices are not on the same page.
– Tree Nuts: Almond prices improved, then stabilized as the industry awaits 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.
