America’s agricultural exports in fiscal year 2024 are projected at $169.5 billion, down $2.5 billion from the August forecast.
The drop is primarily from reductions in grain and feed as well as livestock, poultry, and dairy exports.
Wheat exports are forecast down $800 million to $6 billion on lower unit values and ongoing competition from Russia and the EU.
Livestock, poultry, and dairy exports are forecast to drop by $1.3 billion to $36.3 billion due to declines across most products.
Beef and pork exports are both projected $300 million lower on tight supplies and lower demand, respectively.
Poultry products and dairy will both drop by $200 million due to lower volumes and decreased price competitiveness.
