# Beefed-up tariffs leave global protein markets in a stew

> Following Trump's April 2 tariff announcement, lean hog and live cattle futures dipped about 1% and CBOT corn and soybeans fell on April 3. Brazil's soybean meal futures rose 2.5% on expected Chinese demand, and some US clients may shift purchases to Latin America.

- Date: 2025-04-03 · published 2025-04-03T12:00:00.000Z
- Category: trade · region Global · magnitude high
- Page: https://feedsoft.ai/events/25246-beefed-up-tariffs-leave-global-protein-markets-in-a-stew
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Tariff uncertainty pushes buyers toward Brazilian origins, supporting South American meal prices while pressuring US grain and meat futures.

## Read by commodity

- SBM: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼
- HOGS: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2025-04-03 | 1 | -3.4% | -3.0 | Directly reports CBOT soybeans falling on April 3 after the tariff announcement, with demand expected to shift toward Brazil and Latin America. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2019-10-23 | [Chinese Buyers Return to Market for U.S. Soy After Tariff Waivers Granted - Caixin Global](https://feedsoft.ai/events/56424-chinese-buyers-return-to-market-for-u-s-soy-after-tariff-waivers-granted-caixin.md) | -1.3% | -1.6% |
| SBM | 2026-07-21 | [Global demand for soybean meal drives prices up in Brazil and the U.S.](https://feedsoft.ai/events/18436-global-demand-for-soybean-meal-drives-prices-up-in-brazil-and-the-u-s.md) | -0.7% | -2.6% |
| SBM | 2026-09-16 | [China's soybean buying revival boosts US export outlook; tariffs cloud prospects \| S&P Global](https://feedsoft.ai/events/14548-china-s-soybean-buying-revival-boosts-us-export-outlook-tariffs-cloud-prospects.md) | +2.5% | +4.2% |
| SBM | 2025-03-28 | [Tariff Uncertainty Pressures Dairy Markets \| Red River Farm Network](https://feedsoft.ai/events/25735-tariff-uncertainty-pressures-dairy-markets-red-river-farm-network.md) | -1.9% | -0.4% |
| SBM | 2020-12-01 | [China Tariff Warning Doesn't Phase Soybean Market \| Feed & Grain](https://feedsoft.ai/events/49726-china-tariff-warning-doesn-t-phase-soybean-market-feed-and-grain.md) | -1.7% | +8.6% |
| CORN | 2025-02-06 | [US farmers could permanently lose key markets amid Trump's tariffs diplomacy: trade \| S&P Global](https://feedsoft.ai/events/14685-us-farmers-could-permanently-lose-key-markets-amid-trump-s-tariffs-diplomacy.md) | +1.4% | -7.2% |
| CORN | 2018-06-27 | [Tariffs bring market uncertainty -  Premium](https://feedsoft.ai/events/11642-tariffs-bring-market-uncertainty-premium.md) | -1.3% | -2.7% |
| CORN | 2023-09-29 | [Ample supplies in Chinese corn market to weigh on global prices](https://feedsoft.ai/events/14817-ample-supplies-in-chinese-corn-market-to-weigh-on-global-prices.md) | +1.9% | +0.9% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/040325-beefed-up-tariffs-leave-global-protein-markets-in-a-stew

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.