Brazil - record profits at Marfrig

Brazilian-headquartered beef processor Marfrig with 28,000 cattle capacity per day has announced record revenue of BRL85bn (€15.4bn) for 2021 and profit of BRL14.5bn (€2.6bn).

Black Sea - conflict hits oilseed markets

The Black Sea conflict has impacted heavily on global oilseed markets. Ukraine produces over 30% of global sunflowers, with Russia in second place with 27%. The conflict has escalated oilseed rape prices also - MATIF May contracts closed at €882.75 last Tuesday and the November contract closed at €730.25/t.

USA - dairy investment boost

USDA has announced an $80bn (€72.7bn) investment in dairy business innovation initiatives to support the dairy sector in the US.

Australia - sheepmeat exports rise

Australia exported 405,000t of sheepmeat in 2021, with the US being the largest customer taking 93,000t, up from 78,000t the previous year.