ANALYSIS: US Cattle Grading Prime at Unprecedented Levels

Cattle grading Prime this year has been at high levels compared to historical data dating back to 1996 and currently are at record levels for this time of year. While genetics play a role in this improvement, another factor driving higher grading percentages is that producers are holding onto their cattle longer. With market prices at favorable levels, producers are incentivized to add more weight to their animals before marketing them...

ANALYSIS: Imported Argentine Beef to the US Figures Up YOY Ahead of Increased Quota Announcement

According to the latest Food Safety and Inspection Service Meat Passed for Entry Report, 30,300 metric tons (mt) of Argentine beef have entered the US so far in 2025. This figure represents a 13,105 mt (76.2%) increase from the same period last year.

30,300 mt is also well above the allotted 20,000 duty free quota that Argentine beef receives in the US. While this is the case, Argentina has yet to fill their quota for the year, indicating that some product...

Tariff Talks 2025: Expana’s Weekly Rundown #32

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read: "Tariff Talks 2025: Expana's Weekly Rundown #32."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.

...

This week, the US administration has continued to pressure trading partners like India to curb imports of Russian oil as to sanction the country during its war with Ukraine, cited Expana...

China's Meat Output Rises Nearly 4% Through Third Quarter 2025 as Imports Fall

China’s meat sector rose 3.8% through the first three quarters of 2025, driven by strong domestic poultry output, while import volumes slumped, according to recently released data from the National Bureau of Statistics (NBS). 

The broader economic picture shows that the world’s second-largest economy grew 4.8% during Q3, its slowest pace in a year, as weak domestic demand left China increasingly dependent on strong export activity. 

Although the growth rate keeps China on track for its roughly 5% annual target, economists question whether the momentum is sustainable, given the country's reliance on external demand amid trade tensions with the United States...

ANALYSIS: A 2021 Pattern Emerges for the US Choice Cutout in 2025

Since June, Expana's Choice cutout has shown decreases of 8–10% and gains of 9–13%. The last time values fluctuated this much during the same time frame was in 2021, when they declined by roughly 16% and increased by 25%. While the swings in 2021 were more volatile, the overall pattern remains similar, even when comparing data going back to January. In 2021, there was about a 55% uptick from January to June, whereas in 2025, the same period saw a 24% rise. Again, although the degree of volatility differs, the pattern is comparable.

Current sentiment around the cutout points to steadiness with slightly...

Tariff Talks 2025: Expana’s Weekly Rundown #30

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read: "Tariff Talks 2025: Expana's Weekly Rundown #30."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.

...

On October 7, US President Trump and Canadian Prime Minister Carney met in the White House. The possibility a US-Canadian trade deal was a main topic of discussion...

Tariff Talks 2025: Expana's Weekly Rundown #28

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read: "Tariff Talks 2025: Expana's Weekly Rundown #28."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.

...

On Tuesday in New York, US President Trump gave remarks to the United Nations General Assembly, via the White House live stream...

Tariffs Torching US Container Imports: Analyst

Containerized imports through American ports are set to take an historic plunge in September, an analyst predicts, as President Donald Trump’s China tariffs take a toll on the busiest trans-Pacific trade route.

Inbound volumes through the top 10 U.S. ports in August finished 0.1% ahead of the same month in 2024, said analyst John McCown in a monthly report, after July volume that was 3.2% ahead, fueled by importers bringing in shipments earlier than usual to beat an August 7 deadline for a renewal of reciprocal tariffs...

ANALYSIS: China’s Meat Imports Fall to Fresh Lows at 504,608 mt in Aug 2025

China imported 504,608 metric tons (mt) of meat, including variety meats in August 2025, slumping 5.4% (28,634 mt) from a month earlier, according to preliminary data from the General Administration of Customs of China (GACC).

Inbound tonnage dropped to its lowest level since Expana began tracking in January 2020. The decline reflected higher domestic output, persistent inventory pressure, broader macroeconomic headwinds, and ongoing trade tensions.

A wave of meat plant license suspensions linked to disease concerns and renewal lapses amid...

ANALYSIS: Australia Drives Korea’s August 2025 Beef Imports to Seven-Month Peak

Korea’s August 2025 beef imports rose for the second consecutive month, reaching 47,475 metric tons (mt), the highest level since January 2025, data from Korea Customs Service showed.

Rising 8.8% month-on-month (MoM), imports increased by 3,841 mt, led by higher volumes from the United States (US) and Australia. Fimer volumes from Canada contributed to the increase, while shipments from New Zealand were broadly stable compared with the prior month, tempering overall growth...

Tariff Talks 2025: Expana's Weekly Rundown #26

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read: "Tariff Talks 2025: Expana's Weekly Rundown #26."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.

...

Despite 50% tariffs remaining on Brazil and India, the Indian Prime Minister Modi and US President Trump expressed positivity that the respective trade teams would reach a deal, according to their latest social media...

US Implements Japanese Trade Deal; 15% Tariffs, Billions in Investments, Ag Purchases

Later on September 4, the US implemented a previously announced trade deal with Japan–setting a 15% baseline tariff on almost all Japanese goods imported to the US, according to a White House statement about a presidential order. This comes almost a week after tariffs were again disputed in the US judicial system.

The now-implemented deal also created sector-specific carve-outs and outlined commitments on both sides that will affect demand for US agricultural commodities and beyond (namely, for US rice).

Plus, the order carves...

Tariff Talks 2025: Expana's Weekly Rundown #25

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read "Tariff Talks 2025: Expana's Weekly Rundown #25."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.

...

In the States, a federal appeals court ruled that US President Trump’s use of global tariffs exceeded presidential authority, but they remain active until at least October 14, 2025...

Tariff Talks 2025: Expana's Weekly Rundown #24

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read "Tariff Talks 2025: Expana's Weekly Rundown #24."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.

...

On August 22, Canadian Prime Minister Carney dropped most retaliatory tariffs on US products, beginning September 1, reported Expana in an article that suggested the move may help soothe trade relations...

Tariff Talks 2025: Expana's Weekly Rundown #23

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read "Tariff Talks 2025: Expana's Weekly Rundown #23."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.

...

This week, tariff news took a bit of a backseat to US President Trump’s dealings with Russian President Putin in Alaska—along with President Trump’s meeting with many European leaders...

Tariff Talks 2025: Expana's Weekly Rundown #22

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read "Tariff Talks 2025: Expana's Weekly Rundown #22."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.

...

The timeline for tariff negotiations between the US and China trade teams has been extended for another 90 days—moving the deadline to November 10, according to a White House fact sheet...