Daily Market Updates

June 14, 2019

U.S. Lemon Imports Rising

Looking at this marketing year for lemons, one clear trend is being seen, increased imports. Imports by volume on a year-to-date basis are up +24% as of the end of March. Strong demand for imported lemons and lemon products has been on the rise with U.S. production projected to lag behind other citrus production. Production of most citrus fruits is projected up this year, with notable increases in Florida after last years decline due to effects from Hurricane Irma.


June 11, 2019

Canadian Milk Production Sky Rockets over Last 10 Years

Looking over historic milk production in Canada, one trend is very clear, production has been increasing fairly consistently over the past 15 years. Total milk produced in 2018 was up +16% since 2012, and up +2.8% from 2017. Alongside that, according to the USDA FAS milk cow beginning stocks have been at a decline up until 2016, with total dairy cow beginning stocks at 972,000 in 2018 (up +2.9% from 2017), and 2019 projections up to 978,000 cows (up +0.6% from 2018).


June 10, 2019

Canadian Hog Prices Rise Amid African Swine Fever Outbreaks

As the world copes with the massive culling in China over ASF (African Swine Fever), global pork markets continue to see rising prices. According to Reuters, up to a 30% decline in Chinese production could be seen due to ASF this year. This may be a boon for countries that export pork, but note that China is both the largest consumer of pork globally, as well as having the most hogs globally. A more than large gap to fill. The gap in loss of production will most likely not be met by increased imports from other major pork producing regions. Tariffs on U.S. pork and outbreaks in Europe may benefit Canada and Brazil’s pork industries. A long-term shift in global pork demand may also be imminent. For now, Canadian hog farmers are welcoming the increased prices that will surely boost their bottom lines.


June 3, 2019

Global Cherry Production

As the U.S. cherry crop sees weather disasters affecting regions in California with yield losses estimated at and above 50%, hopes of good weather and improved trade relations will be key moving further into the season. According to the USDA, the 2019 crop year is estimated to be slightly lower than the previous crop year, with projections totaling 444 thousand metric tons.


May 14, 2019

Japan Vegetable Imports

Japan imports well over 50% of its food calories. As such, imports play a key role in supplying the Japanese market with its food needs, and trade flows are critical for consumers. Two of Japan’s key vegetable importing partners continue to be China and the United States. Fresh and frozen vegetable imports in 2019 from China were down -16.7%, but up +3.5% from the U.S. YTD compared to 2018 (Jan-Feb).

Source: Japan Ministry of Finance Custom Statistics, AgPresent


May 13, 2019

Korean Retail Beef

Korean retail beef prices in March continued below last years prices, with year-over-year prices down -1.5%, and up 0.1% month-over-month from February. South Korea continues to be a key market for U.S. beef (and protein in general) exports.

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