Key Takeaways:
Imports supply 70–75 percent of U.S. lamb disappearance, with Australia and New Zealand accounting for nearly all imported volume. The deficit is structural, not cyclical: domestic production cannot scale quickly enough to displace imports or reset the market’s reference price. Freight and exchange rates function as pricing variables because imported lamb travels long distances and is priced across AUD, NZD, and USD currency relationships. Carcass consistency reinforces import dependence: U.S. lamb retains important quality advantages, but rising domestic variability weakens buyer confidence in uniform supply. The U.S. lamb market is short domestic production and long freight, FX, and Oceania climate risk.
The U...
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
