EU medium-term outlook on red meat

The latest medium-term outlook has been released by the EU, looking out to 2032. The outlook is available here or read our summary of the key takeaways below: Beef Beef production is expected to fall, with EU gross beef production predicted to continue declining to 0.6 million tonnes (-9%) by 2032 driven by a decline in the cow herd of 2.8million head (-9.1%). A slight decline in consumption is expected to continue across the next ten years. By 2032, per capita beef consumption may drop from 10.3kg to 9.5kg (-7.8%). EU beef and veal exports are due to grow by 2032 (+1.1% per year), mainly thanks to continuing demand from existing trade partners. Future trade agreements between the UK and Australia/US (not accounted for in the EU baseline) might change this picture drastically. EU beef imports rebounded in 2022, following Brexit and Covid 19 implications. In the coming years, imports will slowly increase and reach close to pre-COVID levels by 2032. Beef prices are expected to ...