Global poultry markets rebounding

Published 2024년 7월 3일

Tridge summary

Rabobank's latest animal protein report predicts a rosy future for the global poultry market, with a recovery from disrupted conditions and a return to normal market trends. This recovery is driven by a moderate increase in poultry meat consumption and a supply that is well-controlled. Despite a rise in global chicken prices, it remains a cost-effective protein option compared to pork and beef. However, producers face challenges such as rising feed prices and the potential impact of La Niña on crop harvests. The market's dynamics are being influenced by shifts in trade flows, with the EU and US performing well but China and Japan experiencing overgrowth. A significant drop in global poultry trade in Q1 2024, especially due to a decrease in Chinese imports, is expected to prompt major exporters to seek alternative markets. Additionally, the new EU import quota for Ukraine is expected to impact the trade of breast meat and whole chicken. The poultry industry also grapples with the ongoing challenge of avian influenza, highlighting the importance of stringent biosecurity measures.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the latest animal protein report by Rabobank, the outlook for global poultry markets is further improving, driven by accelerated growth in poultry meat consumption, ranging from 1.5% to 2%, and disciplined supply growth in many markets. After four years of highly disruptive conditions, global poultry markets are moving toward more “normal” market conditions. Global trade is expected to become more competitive than in the past two years due to shifts in trade flows. Despite a 2% increase in global chicken prices, chicken remains a competitively priced protein option, as prices of pork and beef have increased by 4% and 5%, respectively. However, operations remain a critical area of focus for producers. Feed prices have hit their lowest point after two years of decline, and have increased for the first time in two years (+1%) due to weaker-than-expected harvest predictions in Brazil, North America, and Europe. According to Nan-Dirk Mulder, Senior Analyst – Animal Protein ...

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