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.