Higher cattle prices in 2022 could halt downward trend in EU beef production

According to the analyst, in the period January-August, the volume of industrial slaughter in the EU was lower by 64 thousand. tons on an annual basis, i.e. by 1.5 percent. The partial data for September also showed a y/y decline of 1%. - However, the foreign trade balance has deteriorated. During the first eight months of this year, exports from the European Union in terms of volume decreased by 5%. compared to the same period of the previous year. At the same time, imports grew, which in the indicated period was higher by 34 percent. on an annual basis. This fully or partially (depending on the month) compensated for the decline in EU meat production, informs Rykaczewski. Domestic cattle prices According to the analyst, domestic cattle prices peaked in May 2022. In the indicated month, the average purchase price in Poland was PLN 11.72/kg (+61% y/y). In subsequent periods, the quotations remained in a slight downward trend - in November, cattle were paid on average by 7 percent. ...