Brazil: Severe weather contributes to higher soybean, corn prices

Severe weather and crop failures in south Brazil and increased consumption demand are driving up corn and soybean meal costs in that country, putting pig and poultry farmers on alert. Ariovaldo Zani, executive VP of Brazil’s National Animal Feed Industry Association, Sindirações, said feed production this year will increase by 3.0 to 3.5 percent. Feed costs account for about 60 percent of Brazilian pig and poultry producers’ total production cost. “The Brazilian animal feed industry depends on the food industry which, in turn, is modulated by domestic and international consumer demand,” Brazil’s National Animal Feed Industry Association said. Read Article