According to the May release from the U.S. Census Bureau, March 2023 dog and cat food exports (dollar value and quantity) have increased from February 2023, with dollar values continuing to show year-on-year gains over 2022. March 2023 dog and cat food exports were $227.860 billion. This is an increase of $30.848 billion or 15.7 percent from February 2023 and 4.3 percent over March 2022. Participants in the pet food sector indicated lower demand levels for the start of 2023, though interest levels have increased at the end of quarter one. For the near term, participants have indicated strong demand, however, limited supplies have tightened price gains and export opportunities. Most feed related markets in the second quarter have had consistent pressure due to CBOT price drops for relative values as well as diminished interest in animal feed for farms. Due to this, most animal feed grain raw materials have been reduced in price, which has resulted in lower dollar per metric ton….