For the Quarter Ending September 2025
North America
• In United States, Cattle Feed Price Index rose in Q3 2025, driven by robust demand and producer input costs.
• Cattle prices surged to record highs in August and September 2025, signaling strong demand for beef products.
• Dairy cow numbers and milk production forecasts revised upward for 2025, sustaining demand for dairy feed.
• U.S. feed grains supply increased in Q3 2025, leading to softened grain prices versus prior year.
• Natural gas spot prices eased in September 2025 due to mild weather and increased marketed production.
• Producer Price Index increased 2.6% year-over-year in August 2025, reflecting rising input costs for feed.
• Retail sales, excluding auto and gas, increased 5.42% year-over-year in September 2025, supporting consumer demand.
• Consumer confidence declined in September 2025, impacting spending on higher-priced food items.
• Cattle Feed Production Cost Trend was mixed, with lower grain and energy costs offset by broader producer inflation.
Why did the price of Cattle Feed change in September 2025 in North America?
• Strong beef and dairy demand, with cattle prices surging in Q3 2025, supported feed prices.
• Producer input costs increased 2.6% year-over-year in August 2025, contributing to upward pressure.
• Robust retail sales, up 5.42% in September 2025, indicated healthy consumer appetite.
APAC
• In China, the Cattle Feed Price Index fell quarter-over-quarter in Q3 2025, influenced by deflationary pressures and contracting manufacturing activity.
• The Cattle Feed Price Forecast indicates continued downward pressure due to subdued domestic demand and farmer unprofitability.
• Cattle Feed Production Costs saw mixed trends; domestic corn production climbed, but weather impacted yields in Q3 2025.
• Demand for soybean meal weakened in Q3 2025 as pig and poultry farming faced prolonged unprofitability.
• China's Manufacturing Index was contracting in September 2025, and consumer confidence was low at 89.6.
• The unemployment rate stood at 5.2% in September 2025, indicating reduced consumer purchasing power.
• Despite industrial production rising 6.5% and retail sales growing 3.0% in September 2025, overall demand remained soft.
• China's corn imports fell sharply in Q3 2025, reflecting a strong policy emphasis on self-sufficiency.
Why did the price of Cattle Feed change in September 2025 in APAC?
• Deflationary pressures, with CPI at -0.3% in September 2025, dampened consumer demand for meat and dairy.
• Producer Price Index declined by 2.3% in September 2025, suggesting lower input costs and weak demand.
• Prolonged unprofitability in livestock farming reduced feed purchases, weakening soybean meal demand in Q3 2025.
Europe
• In Germany, Cattle Feed Price Index inched up in Q3 2025, influenced by rising animal feeding stuff costs.
• Cattle Feed Production Cost Trend remained stable in Q3 2025, despite high input costs for farmers.
• Cattle Feed Demand Outlook was robust in Q3 2025, driven by sustained demand for quality products.
• Consumer Price Index rose 2.4% in September 2025, potentially impacting consumer purchasing power.
• Producer Price Index declined 1.7% in September 2025, reducing feed production costs.
• Manufacturing Index contracted in Q3 2025, signaling economic weakness affecting animal product spending.
• Industrial Production declined 1.0% in September 2025, indicating a weakening economy.
• Retail sales increased 0.2% in September 2025, supporting stable consumer demand for animal products.
• Ample domestic grain availability and robust EU inventories supported Cattle Feed supply.
• Cattle Feed Price Forecast suggests continued stability, balancing cost pressures with steady demand.
Why did the price of Cattle Feed change in September 2025 in Europe?
• Animal feeding stuffs prices in the EU inched up in Q3 2025, increasing Cattle Feed production costs.
• Producer Price Index declined 1.7% year-over-year in September 2025, partially offsetting input costs.
• Robust demand for quality animal products supported Cattle Feed demand in Q3 2025.
