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Pet food makers face rising demand for higher-quality rendered ingredients, with global pet food output projected to grow about 5% annually through 2025. The article says severe drought in the western US has cut cattle herds to multi-decade lows, with numbers not expected to recover to pre-drought levels until 2027.
A shrinking cattle herd reduces the supply of rendered animal by-products such as meat and bone meal, which tightens supply for feed and pet food buyers and supports their prices.
globalpetindustry.comCharles Starkey &, Jennifer MartinSep 1, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
