On October 3^rd the United Nations Food and Agricultural Organization released the Food Price Index for Commodities covering September 2025. The FAO recorded a 0.9 point decrease in the revised August 2025 Index to the most recent value of 128.8 points.

 Components of the Index included:-

• The Meat index was up 0.9 points from August to 127.8 points with escalation in prices for beef and mutton representing an all-time high. Prices for pork and chicken were stable during the month. The U.S. Beef supply is constrained by past droughts, intermittent closure of the border with Mexico following outbreaks of New-World Screwworm myiasis and the effect of tariffs on Brazil.
• The Cereal Index in September was down 0.6 points from August to 105.0 due to lower values for wheat, sorghum and rice that were in plentiful supply.
• The Vegetable Oil Index in September was down 1.2 points from August to 167.9 points, although near a three-year high. FAO recorded lower prices for soy and palm oils offset by increases in sunflower and canola oils. Generally there was a decreased world demand for vegetable oils both for human consumption and biodiesel.
• The Dairy Index was down for the third consecutive month by 2.6 points from August to 148.3 with increased availability

Given the fluid state of tariffs, U.S. exports of corn and soybeans will be constrained during the current and subsequent 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.