The head of RaboResearch Food and Agribusiness in North America says the animal agriculture sector has been the bright spot for the ag economy this year.
Roland Fumasi tells Brownfield, “You’ve got strong cattle prices, strong broiler prices, high egg prices.”
“We’ve seen a significant rebound in milk prices—all that coupled with lower feed cost, it really makes the animal agriculture picture look pretty positive,” he says.
He says row crop prices are likely to stay depressed for some time, but low global wheat stocks could provide some strength.
“When you look at the global stocks-to-use ratio, we exclude China in that, it’s going to be at the lowest level since ‘08/09,” he explains. “Wheat could be that one brighter part of that major crop story.”
Fumasi says looking ahead, the availability and price of farm inputs remain a concern with the ongoing conflict in the Middle East as well as possible trade friction a new administration could bring.
Brownfield interviews Fumasi about RaboResearch’s latest North America agribusiness review.
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