RaboResearch In The News

March 2024

Volatility to remain 'a persistent force' in dairy despite likely 'slow but steady' increase in prices

While Rabobank's analysis suggested that farmer margins would improve in most regions as the year progresses, in China, the expectation is for raw milk price to likely stay low, said Michelle Huang, Shanghai dairy analyst for Rabobank. Lucas Fuess, senior dairy analyst at Rabobank, told us trade policy could be the single most important factor when it comes to who U.S. dairy farmers pick for president in November. “Several topics will likely be at the forefront of farmer’s minds leading up to the US election,” he explained “A variety of topics driven by federal government policy can impact dairy prices, including trade policy, sustainability requirements, nutrition guidelines, or food support program (SNAP, WIC) funding levels.”

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California strawberry acreage at multi-year highs

The North America Agribusiness Review published by RaboResearch provides insights into the U.S. strawberry and blueberry markets, revealing significant trends and price movements. According to the report, as of mid-February, non-organic strawberry shipping-point prices stood at around USD 18 per flat, marking a 6% increase year-on-year for the produce from Central Florida.
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South American crop size updates out soon

A global strategist for grain and oilseeds with Rabobank says he’s keeping a close watch on South America’s crop production as harvest advances. Stephen Nicholson says Brazil’s first corn and soybean harvest are about halfway complete, but combines are moving fast. “It’s not going to be a record, but it will be a big soybean crop. And Argentina, where they produced 25 million metric tons last year will produce at least double that here in 2024. Whatever loss Brazil has, Argentina will make up for it.”
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Annual Meat Conference report: U.S. the 'big bird' in global poultry

The U.S. poultry industry is well positioned for 2024, as lower feed costs and positive consumption trends have improved the overall outlook for global poultry production, Christine McCracken, executive director, senior protein analyst at Rabobank, said in a presentation during the 2024 Annual Meat Conference, held in Nashville March 18-20. The global industry finally is getting slightly better growth in the top 20 markets for poultry excluding China. McCracken said she expects China’s poultry market to contract this year on softness in foodservice sales as the country grapples with economic challenges.
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