World meat market in June 2023 and forecast

Published 2023년 7월 7일

Tridge summary

In the US, beef prices have been increasing due to strong demand and a scarcity of cattle. Imports of beef are expected to reach the highest level since 2005, as domestic production is expected to decrease. In Brazil, beef prices have been falling due to increased livestock supply, while export prices have increased. In Europe, beef prices have also been falling due to seasonality and a decline in domestic production. Poultry prices in Brazil are expected to remain low due to large supply, while chicken prices have increased slightly.

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

Original content

US: Beef prices increase The wholesale price of beef in the US rose to a new high in mid-June 2023 and much higher than in the same period last year, due to strong demand during the roasting season, while the number of cattle was scarce (in this condition). prolonged dry weather) continued to push prices higher. The US Department of Agriculture (USDA) forecasts that US beef imports in 2023 will reach Lb 3.5 billion – the highest level since 2005. Imports in 2023 are expected to increase further to 3.56 billion Lb. These numbers are unchanged from the USDA's previous forecast. The reason for the increase in beef imports is expected to be due to the fact that beef production in the US domestic market is expected to decrease significantly this year due to a sharp decline in the herd. Beef prices are expected to continue to rise in the coming months due to continued tight supply and strong demand. However, the upside momentum may be limited due to lower feed prices. Brazil: Beef ...

Source: Vinanet