USA - drop in milk production
USDA forecasts that milk production in 2022 will be down 132.3m litres to 99.7bn, the first year-on-year decline since 2009.
Ukraine - influence of sunflower planting
As sunflower plantings in Ukraine account for about 30% of global production and the crop is mainly grown in the centre and east of the country (war zones), any shortfall in sunflower oil may increase demand for oilseed rape.
Australia - increase in sheepmeat exports
Australian lamb exports were 62,281t in the first quarter of 2022, up 8% on first quarter of 2021, while mutton exports were up 2% at 35,303t (Dept Agriculture Australia).
Brazil - currency continues to strengthen
Brazil’s currency – the real – strengthened further this week, reaching BRL5.07=€1 compared with BRL6.55=€1 in January. This makes Brazil’s steer value the equivalent of €4.20/kg.