Global beef market outlook mixed

Published 2023년 3월 6일

Tridge summary

A recent global beef report for Q1 2023 by RaboResearch highlights a decrease in feeder supplies in various countries, with China continuing to show strong beef demand, which is expected to increase in the latter half of the year. The U.S. faces a significant drop in beef cow inventory and feedyard inventories, leading to a market tightening. Brazil's beef production is projected to rise by 2%, helping balance the decline in the U.S., Europe, and New Zealand. In China, while retail beef prices remain stable, pork prices have fallen due to reduced consumption following high COVID infection rates, although a recovery in protein consumption is anticipated in spring. Japan's beef market experiences high prices and oversupply, leading to decreased consumption.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A first-quarter global beef report for 2023 from RaboResearch Food & Agribusiness shows continued shrinking of feeder supplies -- but with different countries at different points in the cycle. The report is published by the Global Animal Protein Sector team with lead author Angus Gidley-Baird. China remains a focal point for beef demand, with Rabo's analysts anticipating the country's appetite for it will increase in the second half of this year. In the U.S., the report notes that beef cow inventory is at its lowest point since 1962, and feedyard inventories are showing decline. This drop is going to cause a "redistribution of global beef supplies and an overall tightening in the market" the analysts stressed. Some key things to watch globally that the report's authors believe will affect beef markets moving forward include: -- United States. Feeder cattle and calf supplies reflect a four-year decline, with beef cow numbers 1 million head below levels a year ago. This is the ...

Source: Dtnpf