World Farming Agriculture and Commodity news - Short update  21st April 2025

World Farming Agriculture and Commodity news - Short update 21st April 2025

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Mexico’s chicken meat production is forecast to rise 2% in 2025 to 4.1 million metric tons (MMT), driven by population growth and strong demand from households and the food service sector, according to a recent report from the USDA Foreign Agricultural Service in Mexico City​. As the world’s sixth-largest producer of chicken meat, Mexico supplies about 80% of its domestic demand. Over the past decade, national production has grown by more than 30%. Improved hatchling survival rates—thanks to greater investments in biosecurity and feed storage—are expected to boost production. Producers also point to stable and relatively low input costs as key to their continued expansion plans. However, challenges persist. Theft and extortion along the poultry supply chain remains a constraint. Despite this, strong domestic demand and favourable market conditions continue to push growth. 

The U.S. is ramping up egg imports and considering regulatory changes to combat soaring egg prices caused by the bird flu outbreak. President Donald Trump’s administration has nearly doubled imports from Brazil—originally for pet food use—and is also sourcing eggs from Turkey, South Korea, and potentially European countries like Italy and Denmark.

Key Developments:

  • Brazilian and broiler chicken eggs are being used in processed foods (e.g., cake mix, salad dressing) to free up fresh eggs for grocery shelves.

  • A $1 billion plan was announced in February to reduce prices, including virus prevention, farmer support, and vaccine research.

  • The FDA is reviewing a request to allow eggs from meat chickens (broilers) for human consumption—a move previously rejected due to salmonella concerns.

Global Outreach:

  • Italy and Denmark have been approached to assist with exports, but European surplus is limited.

  • Hundreds of millions of eggs are being imported in the short term to stabilize the market.

  • Officials aim to revert to domestic production once the egg-laying chicken population recovers.

The strategy underscores the urgency of resolving domestic shortages while balancing food safety, international partnerships, and regulatory flexibility.

Weekly USDA US beef, pork export sales

Beef: Net sales of 17,500 MT for 2025 were up 47 percent from the previous week and 78 percent from the prior 4-week average. Increases were primarily for Japan (7,700 MT, including decreases of 300 MT), South Korea (3,700 MT, including decreases of 500 MT), Mexico (2,100 MT), Taiwan (1,300 MT, including decreases of 100 MT), and Canada (900 MT). Exports of 14,600 MT were down 3 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to South Korea (5,600 MT), Japan (3,500 MT), China (1,400 MT), Mexico (1,400 MT), and Taiwan (1,100 MT).

Pork: Net sales of 20,500 MT for 2025 were down 14 percent from the previous week and 35 percent from the prior 4-week average. Increases were primarily for Japan (7,100 MT, including decreases of 200 MT), Mexico (3,200 MT, including decreases of 200 MT), South Korea (2,300 MT, including decreases of 1,300 MT), Colombia (2,100 MT, including decreases of 100 MT), and Canada (1,900 MT, including decreases of 100 MT). Exports of 30,900 MT were up 3 percent from the previous week, but down 3 percent from the prior 4-week average. The destinations were primarily to Mexico (11,100 MT), South Korea (5,300 MT), Japan (4,400 MT), China (2,900 MT), and Colombia (2,000 MT).

China’s Q1 pork output rises 1.2%

China’s pork output rose 1.2% from year-ago in the first quarter to 16.02 MMT. A total of 194.76 million hogs were slaughtered from January to March, a 0.1% increase from the same period last year. Typically, pork output rises in the first quarter due to increased hog slaughter ahead of the Lunar New Year holiday. But the sector remains under pressure, with oversupply and slow demand continuing to weigh on prices and profits. Authorities have taken steps to curb oversupply, as Beijing in 2024 lowered the national target for normal retention of breeding sows to 39 million head from 41 million.

Livestock, Dairy, and Poultry Outlook: April 2025

Summary

Beef/Cattle: The 2025 beef production outlook is raised by 15 million pounds from last month to 26.700 billion pounds. Projections for cattle prices are higher as slaughter steer prices are raised to $205.51 per hundredweight (cwt) and feeder steer prices are raised to $281.03 per cwt. Beef import and export forecasts are lowered to 4.860 billion pounds and 2.685 billion pounds, respectively.

Dairy: The 2025 milk production forecast is increased to 226.9 (+0.7) billion pounds due to higher expected cow numbers (+25,000) and anticipated improved milk yield per cow (+10 pounds). Dairy product price forecasts are adjusted lower from last month's forecasts, including Cheddar cheese $1.790 (-2.0 cents), dry whey $0.510 (-1.50 cents), butter $2.445 (-7.0 cents), and non-fat dry milk (NDM) $1.22 (-3.5 cents). With lower price forecasts across main dairy products, the forecasts for Class III and IV milk prices are also revised downward from the previous projections to $17.60 (-$0.35) and $18.20 (-$0.60) per hundredweight (cwt), respectively. The all-milk price for 2025 is now forecast at $21.10 per cwt, down $0.50 from last month's forecast.

Pork/Hogs: Information from the Quarterly Hogs and Pigs report published in March supports a moderate reduction in 2025 pork production. Total 2025 pork production is forecast at 28.1 billion pounds, down about 350 million pounds (1.2 percent) from the previous forecast in March. Prices of 2025 live equivalent 51–52 percent lean hogs are expected to average $61.14 per hundredweight, about 1 percent below average prices in 2024. While domestic pork demand remains robust, trade-related uncertainty on world markets is projected to pare down 2025 pork exports to about 7 billion pounds, about 2 percent below exports last year.

Poultry/Eggs: Projected broiler production in 2025 is adjusted up reflecting heavier weights and favorable margins, but projected broiler exports are lowered. Broiler prices are adjusted up in 2025 on recent price data and healthy demand. Projected table egg production is adjusted down on recent flock losses; egg and egg product imports are projected to increase while exports are projected to decrease from 2024. Projected egg prices in 2025 are adjusted down on recent price trends. Projected turkey meat production and exports are adjusted down on recent data, while prices are adjusted higher.

Dairy Forecasts for 2025

The 2025 dairy herd size forecast is 9.405 million head, which is 25,000 head higher than the previous month's projection. An anticipated higher milk yield per cow throughout the year has led to an increase of 10 pounds per cow, which is now forecast at 24,130 pounds per head. Consequently, the revised milk production forecast for 2025 is 226.9 billion pounds, an increase of 0.7 billion pounds from the previous month's estimate and 1.0 billion pounds higher than 2024. Dairy import forecasts were adjusted lower from last month's forecast mainly due to the imposition of additional duties on imported dairy products. On a milk-fat basis, dairy import projections in 2025 were lowered to 8.5 billion pounds (-0.4 billion), while on a skim-solids basis imports were lowered to 6.7 billion pounds (-0.3 billion). Notably, lower expected import volumes of cheese, butter, and infant formula are anticipated for 2025. The 2025 dairy export forecast changes are mixed from the previous forecast. The milk-fat basis forecast has been raised by 0.1 billion pounds to 11.8 billion as shipments of butter, whole milk powder, and cream are expected to increase.

Conversely, on a skim-solids basis, the export forecast was lowered to 44.6 billion pounds (-2.9 billion) as shipment decreases are anticipated for dry skim milk, dry whey products, and lactose. Stocks are expected to be higher than the previous month's forecast in 2025. By the end of the year, ending stocks are projected to increase by 0.2 billion pounds on a fat basis, and by 0.3 billion pounds on a skim-solids basis. While domestic use for 2025 is unchanged from last month's forecast at 223.1 billion pounds on a milk-fat basis, the domestic use forecast on a skim-solids basis was raised by 3.0 billion pounds to 187.3 billion pounds. Based on recent lower price trends, the adjusted forecasts, in dollars per pound for dairy products, are as follows: Cheddar cheese $1.790 (-2.0 cents), dry whey $0.510 (-1.50 cents), butter $2.445 (-7.0 cents), and NDM $1.220 (-3.5 cents). With lower cheese and dry whey prices, the new forecast for Class III milk is $17.60 per hundredweight, $0.35 lower than the previous forecast. With lower butter and NDM price projections, the Class IV price forecast has been lowered to $18.20 per hundredweight, $0.60 lower than the previous projection. The all-milk price for 2025 is now forecast at $21.10 per hundredweight, down $0.50 from last month's forecast.

Pork market

March Hogs and Pigs Report Shows Largely Static Pork Sector

Estimated federally inspected (FI) hog slaughter for the first quarter of 2025 finished out at 31.9 million head, 2.3 percent below numbers of a year earlier. The June–August 2024 pig crop, fractionally smaller than June–August 2023 numbers, supplied most of the hogs for first-quarter 2025 processing. The comparatively large year-over-year reduction in FI slaughter numbers may, in part, be attributed to reports of disease in some large operations in key producing Midwestern States.

The estimated FI first-quarter pork production was about 6.9 billion pounds, 2 percent lower than a year ago, with slightly heavier estimated average dressed weights offsetting a marginal amount of the effects of lower animal numbers. First-quarter prices of live equivalent 51–52 percent hogs averaged $62.57 per hundredweight, almost 14 percent higher than during the same period last year. Lower supplies of slaughter-ready hogs, and higher prices of all proteins contributed to higher hog prices in the first quarter. Commercial pork production in the second quarter is lowered 125 million pounds to about 6.8 billion pounds. The reduction is due largely to downward revisions to lighter weight categories of the September hog inventory, published in the Quarterly Hogs and Pigs report on March 27, 2025.

The current forecast for second-quarter 2025 production is almost 1 percent higher than in the same-period last year. Last month’s forecast—before publication of the March Quarterly Hogs and Pigs report—showed second-quarter pork production up 2.4 percent compared with a year earlier. Second-quarter hog prices are likely to average $63 per hundredweight, almost 4 percent lower than a year earlier. The December–February5 pig crop will supply most of the finished hogs for processing in the third quarter of 2025. The Quarterly Hogs and Pigs reported December–February farrowings of 2.892 million head, down about 1.3 percent from a year earlier, with a litter rate of 11.65 pigs per litter, yielding a pig crop of 33.7 million head, about equal with a year earlier. Third-quarter commercial pork production is forecast at 6.9 billion pounds, 2.2 percent greater than the same production period in 2024, largely due to higher expected slaughter levels and heavier expected dressed weights than the previous year. Live equivalent prices of 51–52 percent lean hogs are forecast to average $65 per hundredweight during the third quarter of 2025, more than 2 percent greater than a year earlier.

The March Hogs and Pigs report published a second set of producers’ farrowing intentions for the March–May production quarter. If producers follow through on their stated intentions, 2.913 million sows will farrow, a number fractionally lower than a year earlier. Moderate growth in litter rates would yield a March–May pig crop of less than 1 percent larger, year-over-year. Fourth quarter commercial pork production is expected to reach 7.45 billion pounds, about 3 percent above production during the same period in 2024. Hog prices in the fourth quarter are forecast at $54 per hundredweight, almost 13 percent lower than prices in the fourth quarter of 2024. Revisions and new information supplied by the March Quarterly Hogs and Pigs report point to a total of 2025 commercial pork production of 28.1 billion pounds, a decrease of about 350 million pounds, about 1.2 percent below last month’s annual forecast. For the year, live equivalent prices of 51-52 percent lean hogs are expected to average $61.14 per hundredweight, down from $61.56 per hundredweight in 2024, a reduction of nearly 1 percent. Pork Exports Year-Over-Year Lower in February U.S. pork exports in February were 5 percent lower than a year ago, at 565 million pounds. Weakness was dispersed across most major foreign markets in the Western Hemisphere: Mexico (-2 percent), Canada (-6 percent), and Colombia (-9 percent); Asia: Japan (-19 percent) and South Korea (-14 percent); and Australia (-12 percent). Shipments to China and Hong Kong, Honduras, and Guatemala were year-over-year higher.

2025 Broiler Production Adjusted Up; Exports Lowered

US broiler production totaled 3,619 million pounds in February, down 3.3 percent from February 2024. While average weights were up 1.4 percent year over year, February slaughter totaled 727.7 million birds, down 4.6 percent year over year. This is partially explained by one fewer slaughter day in February 2025 than in the same month in 2024. Broiler slaughter per day in February was virtually unchanged year over year. Preliminary weekly slaughter data for March indicates stronger broiler slaughter. Estimated broiler production for the first quarter is unchanged at 11,700 million pounds. For the second quarter, projected production is also unchanged at 11,850 million pounds. In the second half of the year, improved margins—lower corn and soybean meal prices and slightly higher broiler prices—are expected to encourage increased broiler production.

The third-quarter projection is increased by 25 million pounds to 12,150 million pounds, and the fourth-quarter projection is increased by 50 million pounds to 12,075 million pounds. In total, 2025 broiler production is increased 75 million pounds to 47,775 million pounds. This would be an increase of 1.7 percent over the 2024 total. Reflecting recent cold storage data, as well as increased production expectations, the 2025 ending stocks projection for broiler meat was adjusted up 10 million pounds to 770 million pounds.

.

China’s struggling economy may not be able to endure a prolonged trade war with the United States, according to analysts. Arlan Suderman of StoneX Financial says rising debt, low consumer confidence, falling foreign investment, and a recent Fitch downgrade all signal economic weakness. He believes China “may have taken on a battle they can’t afford to fight,” especially under pressure from President Trump’s 125% tariffs on $430 billion in Chinese goods.

Key Points:

  • China’s Economy Under Strain:

    • Consumer confidence near record lows

    • Shanghai Stock Exchange stagnating

    • Fitch downgraded China’s credit rating due to rising debt and weak domestic demand

  • U.S. Strategy:

    • Trump administration issued $28 billion in past farm subsidies, with more bailouts likely

    • Belief that American farmers can endure the loss of China as a soybean market

  • China’s Response:

    • Shifted to Brazilian soybeans (71% of imports in 2024)

    • Imposed 114% tariff on U.S. soybeans and 100% on Canadian canola meal

    • Stockpiled 16 million tonnes of U.S. soybeans in anticipation of Trump’s reelection

  • Market Adjustments:

    • China cut use of soybean meal in animal feed, promoted low-protein diets

    • Pork oversupply from a rebuilt hog herd contrasts with 2018 trade war conditions

Outlook:

While China claims it is better positioned due to diversified imports and dietary changes, analysts like Bruce Burnett and Fred Gale suggest both nations will suffer in a prolonged trade war—though China may be under more pressure due to its faltering economy

 

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Commodities April 20

Cocoa 4.23% 6,087.00 GBP
Oil (WTI) 2.94% 64.43 USD
Oil (Brent) 2.71% 67.85 USD
RBOB Gasoline 2.20% 2.09 USD
Oats 1.50% 3.55 USD

Commodity Prices

Precious Metals Price % +/- Unit Date
Gold
3,328.30
0.00%
0.00
USD per Troy Ounce
4/19/2025
Palladium
965.50
-0.92%
-9.00
USD per Troy Ounce
4/17/2025
Platinum
973.00
0.10%
1.00
USD per Troy Ounce
4/17/2025
Silver
32.56
-0.61%
-0.20
USD per Troy Ounce
4/17/2025
Energy Price % +/- Unit Date
Natural Gas (Henry Hub)
3.25
-0.58%
-0.02
USD per MMBtu
4/17/2025
Ethanol
2.16
0.05%
0.00
per Gallon
4/3/2025
Heating Oil
56.80
0.00%
0.00
USD per 100 Liter
4/17/2025
Coal
103.50
0.00%
0.00
per Ton
4/17/2025
RBOB Gasoline
2.09
2.20%
0.05
per Gallone
4/17/2025
Oil (Brent)
67.85
2.71%
1.79
USD per Barrel
4/17/2025
Oil (WTI)
64.43
2.94%
1.84
USD per Barrel
4/17/2025
Industrial Metals Price % +/- Unit Date
Aluminium
2,622.65
-1.94%
-51.95
USD per Ton
3/21/2025
Lead
1,890.50
0.41%
7.65
USD per Ton
4/17/2025
Copper
9,813.48
-0.73%
-71.88
USD per Ton
3/21/2025
Nickel
15,411.50
-0.44%
-67.86
USD per Ton
4/17/2025
Zinc
2,520.35
-0.90%
-23.00
USD per Ton
4/17/2025
Tin
30,476.00
-0.65%
-198.00
USD per Ton
4/17/2025
Agriculture Price % +/- Unit Date
Cotton
0.66
0.90%
0.01
USc per lb.
4/17/2025
Oats
3.55
1.50%
0.05
USc per Bushel
4/17/2025
Lumber
574.00
0.00%
0.00
per 1.000 board feet
4/17/2025
Coffee
3.77
-0.29%
-0.01
USc per lb.
4/17/2025
Cocoa
6,087.00
4.23%
247.00
GBP per Ton
4/17/2025
Live Cattle
2.10
1.29%
0.03
USD per lb.
4/17/2025
Lean Hog
0.90
0.39%
0.00
USc per lb.
4/17/2025
Corn
4.83
-0.26%
-0.01
USc per Bushel
4/17/2025
Feeder Cattle
2.93
0.92%
0.03
USc per lb.
4/17/2025
Milk
17.36
0.12%
0.02
USD per cwt.sh.
4/17/2025
Orange Juice
3.06
-3.95%
-0.13
USc per lb.
4/17/2025
Palm Oil
4,117.00
-1.60%
-67.00
Ringgit per Ton
4/18/2025
Rapeseed
535.50
-0.93%
-5.00
EUR per Ton
4/17/2025
Rice
13.49
0.75%
0.10
per cwt.
4/17/2025
Soybean Meal
295.80
-0.30%
-0.90
USD per Ton
4/17/2025
Soybeans
10.36
-0.19%
-0.02
USc per Bushel
4/17/2025
Soybean Oil
0.48
0.95%
0.00
USD per lb.
4/17/2025
Wheat
211.50
1.20%
2.50
USc per Ton
4/17/2025
Sugar
0.18
0.28%
0.00
USc per lb.
4/17/2025