Global red meat trade showing resilience for 2023

Published 2023년 2월 7일

Tridge summary

Record high farmgate cattle and pig prices globally, with falling lamb prices. The United States Department of Agriculture predicts a slight increase in global pork output, with China continuing to be a significant driver of the pork market. Beef production is expected to see a 0.3% reduction globally, contrasted by increases in other regions. Imports are projected to reach 18% of global consumption in 2023, with the UK predicting an increase in lamb production and expecting support from the EU. New Zealand's lamb crop and export volumes have decreased, but prices remain competitive.

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

Original content

Global farmgate cattle and pig prices have reached a record high, while levels in the lamb market are falling below those seen in early 2021 and 2022, according to the latest market commentary from Quality Meat Scotland (QMS). Forecasts also indicate instability in supply and demand within the global red meat market in 2023, with increased trade flows required to bring markets back towards balance. Forecasts for global pork output show the United States Department of Agriculture (USDA) predictions at a 0.3% increase, reaching 114.1m. This would see the recovery from African Swine Fever in China and South East Asia continue, taking production almost 20% above its 2020-low. Consumption growth is predicted to surpass this, leading to a slight increase in global imports. China is looking set to continue as a significant driver of global pork market conditions with a 48% share of world production, over half of global consumption and 21% of imports. However, uncertainty remains around ...

Source: PigWorld