Peanuts Millennial Favorite and U.S. Vietnam Trade Negotiations
From the Ag Information Network, this is your Agribusiness Update.
**A decade of strategic consumer marketing has paid off: peanuts are millennials’ favorite nut.
www.morningagclips.com reports the National Peanut Board’s recent Brand Tracking Study found 85% of U.S. adults have eaten or purchased peanuts in the past month.
48% of millennials, now ages 29 and 44, eat peanuts at least once per week, and 65% eat peanut butter at least once per week, up from 46% and 59% respectively in 2021.
www.morningagclips.com/peanuts-win-with-millennials-gen-z-is-next/
**The U.S. and Vietnam have begun their second round of trade negotiations.
The Vietnamese government is working to establish a new trade agreement that will help it evade a possible 46% tariff, that are paused until July, a move that could destabilize its export-oriented growth model.
Vietnam, a crucial regional manufacturing hub for many Western firms, reported a trade surplus of over $123 billion with the U.S. in 2024.
**The USDA’s May Livestock, Dairy, and Poultry Outlook calls for tighter anticipated supplies of beef cattle after the U.S. banned cattle imports from Mexico.
Tighter supplies will reduce beef production in 2026 to 25.14 billion pounds.
Also, the 2025 milk production forecasts have increased to 227.3 billion pounds.
Wholesale dairy and milk prices are also revised upward, with the all-milk price forecast increased to $21.60 per hundredweight.
