Tridge summary
Recent forecasts from Rabobank, AHDB, the European Commission, and the USDA anticipate a moderate decline in beef production within the European Union for 2024, marking a continuation of a multi-year downward trend. This expected decrease is largely due to a shrinking cattle population, especially among dairy cows, for the eighth year in a row. Factors contributing to this trend include rising production costs, regional droughts, the spread of the bluetongue virus, diminished beef demand, and the implementation of new EU regulations concerning the Green Deal and animal welfare. These challenges are projected to compress cattle farmers' profit margins, resulting in a 9% reduction in live beef exports, a 1% fall in EU beef production from the previous year, and a slight downturn in the beef trade, with imports and exports forecasted to decrease by 3% and almost 4%, respectively.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Rabobank and AHDB forecast a moderate decline in production Forecasts predict that beef production in the European Union has been declining for several years and is expected to remain so in 2024. Both the Dutch Rabobank and the UK Agriculture and Horticulture Promotion Organization (AHDB) expect a moderate decline in production Decline in the dairy cow population The European Commission itself assumes a decline in production and consumption of approximately 1%. compared to 2023. The United States Department of Agriculture (USDA) has now joined the consensus estimate. A recently published market analysis points to a steadily declining cattle population – especially dairy cows – which is expected to decline for the eighth year in a row in 2024. The reasons given include increased production costs, regional drought problems, the spread of the bluetongue virus, weak demand for beef and constantly new requirements from the Brussels Commission. According to the USDA, new EU regulations ...
Source: Farmer.pl
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