Argentina - soya bean forecast reduced

Argentinian soya bean crop production estimate was reduced by the Buenos Aires Grain Exchange from 38 million tonnes to 33.5 million tonnes, as drought continues to affect the crop.

EU - Eurostat pig numbers fall

EU (excluding Italy and Malta) pig numbers fell to 7.68m, an almost 6% decline on December 2021 and the lowest in over 20 years.

Australia - milk production falls

Milk production in Australia fell 3.6% in January to 694.5m litres and production for year to January 2023 was down 6.6% to 5,223.7m litres.

USA - USDA forecasts decline

USDA have forecasted a decline in farm cash receipts of $23.6bn (€22bn) to $519.9bn (€485.9bn), a 4.3% decline for 2023 compared with 2022.