On May 11, the USDA announced that it will close U.S. ports of entry along the southern border, effective immediately, to imports of live cattle, horses and bison due to the continued and rapid northward spread of New World screwworm (NWS) in Mexico.

The May Feed Outlook report shows record-high 2025-26 U.S. corn supplies support elevated corn exports. U.S. old and new corn crop export forecasts are both raised this month on increased price competitiveness and the slower-than-expected pace of shipments from Argentina and Brazil.

The May World Agricultural Supply and Demand Estimates report (WASDE) showed the 2025-26 U.S. corn outlook is for record supplies and total use, and higher ending stocks. The corn crop is projected at 15.8 billion bushels, up 6% from a year ago on increases to both area and yield.

A temporary reduction in tariffs between the U.S. and China emerged over the weekend, allowing U.S. beef exports to escape the burden of a 125% tariff going into the Chinese mainland.

The USDA has suspended imports of live cattle, horses and bison from Mexico through southern border ports, effective immediately, due to the resurgence of the New World screwworm. Screwworm is a parasitic fly that poses a significant threat to livestock and wildlife.

The Cattle on Feed report released April 17 by the USDA National Agricultural Statistics Service (NASS) showed 11.6 million head of cattle being fed for the slaughter market in the U.S., down 2% from April 2024.

The April Feed Outlook report shows the U.S. corn exports boost 2024-25 global coarse grains trade prospects. U.S. 2024-25 corn ending stocks are expected to be 75 million bushels lower this month at 1.465 billion bushels. The lower ending stocks follow an increase in exports partially offset by a decrease in feed and residual use, based on second-quarter disappearance.