On July 4^th the United Nations Food and Agricultural Organization released the Food Price Index for Commodities covering June 2025. A sequential monthly increase in food prices continues in 2025. The FAO recorded a 0.7point increase in the Index from May 2025 to the most recent value of 128.0 points. Components of the Index included:-

• The Meat index was up 2.6 points from May to 126.0 points with higher prices for all animal proteins except chicken products. Brazil regained WOAH status as HPAI-free and resumed exports Prices for beef and pork were higher than in May due to increased U.S. demand. Beef supply is constrained by drought and intermittent closure of the border with Mexico following outbreaks of New-World Screwworm myiasis. 
• The Cereal Index was down 1.6 points from May to 107.4 despite higher wheat prices that were offset by lower values for coarse grains and rice
• The Vegetable Oil Index in June was up 3.5 points from May to 155.7 points with higher prices for soy, sunflower and palm oils. This was due to increased world demand for biodiesel.
• The Dairy Index was up 0.8 points from May to 154.4 in June and up by 26 points from June 2024.

Given the fluid state of tariffs, exports of corn and soybeans will be curtailed during the current market year notwithstanding USDA projections.  Traditional importers of U.S. agricultural commodities will be evaluating competitive prices from Argentine and Brazil offering greater availability and lower landed costs compared to the U.S. This will be to the advantage of domestic poultry and hog producers.