# Japanese animal feed sector faces major price hikes | Feed Strategy

> Japan's animal feed sector faces sharply higher costs as the weaker yen and Russia's invasion of Ukraine have raised import prices. Feed prices have contributed to dairy farm bankruptcies, and Japan imports about 87% of its grain feed, mainly US corn.

- Date: 2023-04-14 · published 2023-04-14T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/36516-japanese-animal-feed-sector-faces-major-price-hikes-feed-strategy
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Japan's heavy reliance on imported corn means a weak yen keeps landed feed costs high and supports demand for cheaper substitutes such as rice. This dampens import demand for US corn at the margin.

## Read by commodity

- CORN: bearish ▼
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-06-16 | [Wall Street closes lower as Fed officials project rate hikes for 2023](https://feedsoft.ai/events/5933-wall-street-closes-lower-as-fed-officials-project-rate-hikes-for-2023.md) | -2.3% | +2.5% |
| CORN | 2021-09-23 | [Gold prices ease as dollar firms on Fed rate hike comments \| Financial Post](https://feedsoft.ai/events/44965-gold-prices-ease-as-dollar-firms-on-fed-rate-hike-comments-financial-post.md) | +1.3% | +2.0% |
| CORN | 2016-12-15 | [Fed lifts rates, sees faster pace of hikes in Trump's first year](https://feedsoft.ai/events/6463-fed-lifts-rates-sees-faster-pace-of-hikes-in-trump-s-first-year.md) | -2.2% | +0.5% |
| CORN | 2016-12-14 | [Fed surprises with three rate hikes next year — and could need more](https://feedsoft.ai/events/6464-fed-surprises-with-three-rate-hikes-next-year-and-could-need-more.md) | -2.5% | -0.4% |
| CORN | 2022-04-28 | [Poor Chinese hog margins to weigh on feed grain price outlook \| The Land \| NSW](https://feedsoft.ai/events/41839-poor-chinese-hog-margins-to-weigh-on-feed-grain-price-outlook-the-land-nsw.md) | -7.5% | -2.6% |

## Sources

- feedstrategy.com: https://www.feedstrategy.com/animal-feed-manufacturing/animal-feed-manufacturers/article/15443473/japanese-animal-feed-sector-faces-major-price-hikes

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