USDA forecast: Global exports of beef, pork and chicken set to increase in 2024

Published 2024년 4월 25일

Tridge summary

The USDA has released global production and trade forecasts for beef, pork, and chicken, showing a stable global beef and veal production in 2024 at 60.4 million tonnes, with notable changes in production volumes within countries like the US, Australia, Brazil, China, and India. Global exports are expected to increase by 2%, led by Australia and Brazil, while US beef imports are projected to rise, accounting for 15% of global beef trade. Global production is predicted to slightly decline by 1%, with China experiencing a drop, but Brazil and the US helping to offset this. Global exports are set to rise by 4%, with China reducing its share of demand and Mexico becoming a key market, and chicken demand remains stable with Chinese imports expected to continue holding a 6% share of global imports in 2024.

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

Original content

The USDA has released its latest forecasts for global beef, pork and chicken production and trade. Global production of beef and veal is predicted to remain similar to 2023 levels at 60.4 million tonnes, but large directional changes are forecasted within this. The latest predictions show US production volumes to falling 2%, as the size of the national herd entering 2024 was the smallest recorded since 1951. Meanwhile, production increases in Australia (+8%), Brazil (+2%), China (+2%) and India (+2%) help to stabilise the overall outlook. Global exports are forecasted to increase from 2023 levels by 2%, with Australian exports (+9%) boosted by strong US demand and competitive prices in East Asian markets. Brazil, having already filled their US quota for 2024 in February, are expected to remain the largest exporter, increasing marginally YoY. Source: USDA After an upward revision, the USDA expects beef imports to the US to account for 15% of global beef trade, up by 14% since 2023. ...

Source: Ahdb