Consumer Foods & Agribusiness

New World Screwworm (NWS) has garnered significant media attention over the past weeks, particularly following the second closure of US-Mexico livestock crossings in early July. The lack of live cattle entering the US has exacerbated…

For multiple oft-discussed reasons, U.S. protein availability has been constrained which, combined with robust demand, has driven extremely strong pricing (and margins for chicken companies and hog producers). In recent months, supply conditions have loosened…

Late yesterday, Trump stated on Truth Social (likely in a nod to the MAHA cohort) that Coke agreed to start using cane sugar in ‘Coke in the U.S.’ Later, Coke released a comment stating details…

The recent RVO proposal laid out far more bullish targets than we had anticipated, and also put forward potential modifications to RIN values for imported fuels/feedstocks. That, combined with potential changes to 45Z rules, results…

Brazil’s farmers have long benefited from both the ability to produce 2-3 crops per year and relatively low land conversion costs. Technological improvements have fostered higher yields that have improved its cost profile further (BZ…

Overall domestic consumer demand has been broadly weak, but meat has fared better due to diet changes. Recently, there are even indications meat demand is slowing in response to torrid price gains, as well as…

Post the ongoing build in global crush capacity (U.S. most pronounced), biofuel policy and crush margins have become inextricably linked. Edible oil demand growth is relatively meager, while global livestock production expansion currently materially lags…

Just three years ago, U.S. beef processors generated very robust margins that easily surpassed previous records. Now, the industry is beset by anemic cattle numbers, increased capacity and competitive threats on both the domestic and…

Our coverage universe never wants for drama, but the recent backdrop has been particularly tumultuous from supply backdrop to export prospects. YTD production has materially lagged expectations, but with the exception of turkey, the production…

The current domestic H5N1 outbreak could have been termed a crisis last year given the number of birds affected (about 40M table-egg layers alone), but little attention was paid outside industry circles. Following special call-outs…