Brazil feed production forecast to rise slightly for 2024

Published Nov 7, 2024

Tridge summary

The National Union for Animal Feed Industry anticipates a 2.4% increase in Brazil's feed production for 2024, with specific rises of 1.8% for broilers and 6.5% for layers, according to the USDA. Brazil's advantage in animal production is bolstered by its status as a major producer of corn and soybean meal, the primary feed ingredients. The USDA projects higher corn and soybean outputs for the 2024/25 season, with corn at 127 MMT and soybeans at 169 MMT, attributed to better weather conditions. This is expected to stabilize feed prices, reducing costs for the poultry industry. Brazil continues to be a leading global producer of corn and soybeans.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The National Union for Animal Feed Industry forecasts a 2.4% increase in feed production in Brazil for 2024. For broilers the expected growth in feed demand is 1.8%, and for layers it is 6.5%, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report. For both broilers and layers the top macro ingredient used for feed is corn, followed by soybean meal. The feed industry is highly dependent on the animal protein sector – especially poultry and swine production. It is important to note that sources point to idle capacity in the feed industry, meaning they could ramp production up if needed. As a major producer of both corn and soybean meal, Brazil has a competitive advantage when producing animals for subsequent slaughter, decreasing the cost of feed. For crop season 2024/2025, USDA forecasts increased crops from the previous harvest. The USDA World Agricultural Supply and Demand Estimates (WASDE) forecasts corn production for MY ...

Source: Thepoultrysite