North American agribusiness review February 2024
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: Sticky inflation.
- Climate: Uncertainty driven by transition from El Niño in 2024.
- Logistics: Red Sea conflict sends prices up, continued volatility in 2024.
- Consumer Retail & Foodservice: US shoppers have adjusted to financial pressures.
- Cattle: Drought conditions improve across the US, leading to possible herd stabilization.
- Corn: South America poised to deliver a bumper crop of its own.
- Dairy: Milk production was lower than the previous year throughout 2H 2023, but farmer margins remain weak.
- Farm Inputs: Costs have to come down, and hopefully they will.
- Feed: Downward pressure on feed prices as corn prices decline.
- Fruit: California strawberry acreage at multiyear highs.
- Pork: Sow slaughter accelerates as margins slow to improve.
- Poultry: Consumers seek out value options, poultry remains well positioned.
- Soybeans: Will Brazil validate traders’ growing short positions?
- Sweeteners: Mexico’s sugar production continues to struggle.
- Tree Nuts: Strong pace in exports is the common denominator.
- Vegetables: Leafy greens show reduced price volatility given steady supplies.
- Wheat: Better crop conditions but lower domestic demand.
Download previous editions
North American Agribusiness Review - October 2023
North American Agribusiness Review - August 2023
North American Agribusiness Review - June 2023
North American Agribusiness Review - April 2023
North American Agribusiness Review - February 2023
North American Agribusiness Review - October 2022
North American Agribusiness Review - August 2022
North American Agribusiness Review - June 2022
North American Agribusiness Review - April 2022
North American Agribusiness Review - February 2022
North American Agribusiness Review - October 2021
