Global beef trade forecasts in 2023

USDA estimates suggest that beef production will drop slightly during 2023 given that the drop in production in the EU and North America will be greater than the increases registered in Brazil, China and Australia. In the case of Brazil, it would grow by 1% and in China there will be more cattle for slaughter, as in Australia. Regarding foreign trade, exports will fall by 1% due to lower demand, especially from China. The drop in sales expected from North America and India will benefit Australia and Brazil. Reduced competition from North America in East Asia and the recovery of production from Australia will allow Australia to increase its shipments and increase its market share. Specifically for Brazil, its sales are expected to grow to record levels and its main competitors (Argentina, Paraguay, Uruguay and India) decrease by 3%. In the case of South American countries, there will be less cattle counts. US beef production is expected to decrease by 6% due to tighter cattle ...