Live Beef
Europe: This Is How Cattle Can Be Moved Between the Member States of the European Union (Dec 12)
In order to prevent the spread of animal diseases, many aspects of the keeping and movement of bovine animals are regulated by Regulation 2016/429/EU of the European Parliament and of the Council on infectious animal diseases (Animal Health Act) and its tertiary regulation. Regulation 2019/2035/EU establishes rules for facilities keeping terrestrial animals and the traceability of these animals within the EU. As a general rule, facilities and suppliers must be registered by the competent authority. Only bovine animals that come from a registered or authorized facility may be transported to another Member State.
Europe: Higher Cattle Prices in 2022 Could Halt Downward Trend in EU Beef Production (Dec 15)
In the period January-August, the volume of industrial slaughter in the EU was lower by 64K MT on an annual basis,1.5%. The partial data for September also showed a YoY 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.
Europe: EU Intends to Create New Regulation for Beef Exports (Dec 16)
The European Union will ban the import of beef from deforested areas. Beef importers will soon have to prove that their suppliers don't farm on recently cleared land. Political groups reached an agreement that will require operators that export to the block to collect geographic information on where the animals were raised. With the regulation, soy and cattle that come from deforested land did not enter EU markets. The purpose of the measure is to reduce greenhouse gas emissions and slow down the loss of biodiversity in the regions from which goods are imported.
US: Live Cattle Firm (Dec 12)
Live cattle futures on the Chicago Mercantile Exchange (CME) climbed on December 9, supported by resilient cash cattle prices across the US Plains in W49. Cash cattle bids rebounded in both the northern and southern US plains, after slipping earlier in the week, trading at USD 158/cwt in Nebraska, while cash bids in parts of the Texas panhandle climbed a dollar to USD 154, the US Department of Agriculture (USDA) said.
US: Live Cattle Higher at the Start of W50 (Dec 12)
At the Chicago Mercantile Exchange, live cattle closed higher, and feeders were mixed ahead of widespread direct cash business. February live cattle closed USD 0.55 higher at USD 156.10 and April live cattle closed USD 0.55 higher at USD 159.90. January feeder cattle closed USD 0.27 lower at USD 183.65 and March feeder cattle closed USD 0.12 higher at USD 185.22. It was a typically quiet Monday for direct cash cattle trade activity. Bids and asking prices weren’t established.
US: Feeder Cattle Rise (Dec 14)
CME benchmark February live cattle gained USD 0.0025 to USD 3,446.92/MT, while the spot December contract edged up by USD 0.005 to USD 3,414.96/MT. CME January feeder cattle rose USD 0.00575 to USD 4,061.46/MT. Boxed beef prices dropped, with choice cuts falling USD 2.07 to USD 254.95/cwt, while select cuts eased by USD 0.22 to USD 225.46/cwt, the US Department of Agriculture said.
US: Cattle Inventory Expected to Drop By 2023 (Dec 16)
According to various reports, the cattle inventory in the US would be reduced in 2023 due to the droughts that are going on because of the La Niña phenomenon. In order to avoid losses, farmers would send more animals, especially bovine females, to slaughterhouses. The United States is being affected by the La Niña phenomenon, but in this country, there is no heavy rainfall but rather droughts.
Australia: Difficult Conditions for the Australian Meat Market in W50 (Dec 15)
While Australian cattle slaughter numbers lifted considerably through November and into early December 2022, the opportunity to sell Australian beef into international markets is difficult due to the lower demand from China because of the extended COVID lockdowns. Australian Exports to the US also remain tight, as local supply remains high. This international pressure has pushed more Australian beef back into the domestic market. Some indicators for Australian beef on December 14, 2022, stood as follows:
Eastern Young Cattle Indicator: USD 6/kg CWT (USD 1.02 MoM drop)
Feeder Steers: USD 3.33/kg LWT (USD 0.46 MoM drop)
Heavy Steers: USD 2.51/kg LWT (USD 0.48 MoM drop)
Medium Cows USD 2.89/kg LWT (USD 0.53 MoM drop)
Netherlands: Cattle and Manure Are Peak Polluters and Wants to Cut by a Third (Dec 13)
The Netherlands is undertaking a far-reaching transformation of its agricultural sector, pushing to reduce nitrogen emissions and revitalize natural lands. The country, known for being one of the world's biggest exporters of agricultural products, no longer wants to prioritize exports, Nature, and Nitrogen Policy Minister Christian van der Waal-Zegelink said in an interview in his office in The Hague.
Ireland: Prices up but Icy Conditions Easing Supply (Dec 12)
Factory quotes for finished cattle have moved on another notch since last Monday, as the beef price continues to move in a positive direction. Factory procurement staff in some parts of the country have said that dangerous road conditions as a result of the cold weather are causing many farmers with finished cattle to remain at home.
Ireland: Farmers to Receive USD 29.82 In BDGP Payments in Coming Days (Dec 12)
Minister for Agriculture, Food, and the Marine Charlie McConalogue today (Monday, December 12) confirmed that payments under the 2022 Beef Data and Genomics Programme (BDGP) have commenced. The BGDP has also been critical in income support for beef and suckler farmers since its inception. Payments valued at over USD 29.82M (EUR 28M) are to be issued over the coming days to over 14.5K participants across both programs. BDGP A one-year transitional BDGP for 2022 saw 16.5K of the original BDGP. For scheme’s participants opt to continue in the scheme for 2022.
Ireland: Prices for Cattle to Rise in 2023 (Dec 13)
The average prices for finished cattle are expected to be 4% higher in 2023, according to Teagasc according to the new Economic Outlook for Irish Agriculture report, published on December 13 by Teagasc. The report highlights that high production costs are likely to remain on the horizon for Irish farmers throughout next year.
Ireland: USD 1.81M Paid to Farmers in Eid Tag Subsidy Scheme (Dec 14)
Over USD 1.81M (EUR 1.7M) has been paid out to around 58K farmers under year one of the Bovine electronic identification (EID) tag subsidy scheme. The scheme was introduced to help farmers in transitioning to the new mandatory electronic identification system which requires that all calves born after July 1, 2022, must be identified with a tag set that includes an EID tag.
Ireland: Funding Needed for Climate Action in Beef and Sheep Sectors (Dec 15)
The Irish Cattle and Sheep Farmers’ Association (ICSA) on December 16, set out a series of proposals to the Minister for Agriculture, Food, and the Marine to provide substantial funding to active farmers in the beef, suckler, and sheep sectors. The association is calling for funding to help farmers deliver “win/win” solutions to climate change.
Mexico: Exports of the Livestock Sector Exceeded USD 450M in October (Dec 14)
In October, exports of meat, live animals, and dairy products exceeded USD 451M, 35% more than in the same month of 2021. In fact, in the tenth month the value of exports was the second highest of the year with USD 54.6M, only surpassed by March. Exports of live cattle, meat and offal, and dairy products between January and October 2022 reported revenues of USD 451.9 M (FOB value). Shipments of live cattle totaled USD 272.3M, those of meat and offal with close to USD 163.8M, and those of dairy products reached USD 15.8 M.
Poland: Meat Market (Dec 12)
During the first three weeks of November 2022, the purchase prices of live cattle in Poland changed slightly. In the fourth week of November slaughter, cattle became cheaper compared to the previous week by 1.5% to USD 2.49/kg (PLN 10.89/kg). Live beef was also cheaper by 0.5% than a month ago, but more expensive by 16% than in the corresponding period of 2021.
Germany: Cattle Population in Thüringen Increased Slightly (Dec 14)
After an evaluation of the HIT database (origin and information assurance system) on November 3, 2022, a cattle population of 277.9K animals was determined for Thuringia. According to the Thuringian State Office for Statistics, that was 2.1K cattle, 0.8% more than in the last survey on May 3, 2022.
Argentina: The Bad Memory of the 2008-2010 Drought Worries Farmers (Dec 14)
The lack of rains that impacted the entire production scheme set off alarm lights in cattle farming, which continues to be unable to increase the beef stock. According to the Rosario Ganadero Market (Rosgan), the current dry scenario may lead to a scenario similar to what was experienced between 2008 and 2010, when about 10M heads of cattle were lost.
New Zealand: Local Saleyard Prices in W49 (Dec 15)
During W49, the trading of lambs has dropped to minimum levels locally in New Zealand, which is reflective of the cautious approach traders are taking. Good feed levels have created a situation where farmers can hold onto their livestock instead of trading them. Since prices are below par, many farmers decided to hold off selling in the lead-up to Christmas for better farmgate values/prices.
The average local slaughter and export price trends for W49:
W49 prices - W48 prices
Steer NI P2, 300kg - USD 3.93/kg - USD 4.00/kg -1.6% down,
Export Bull, USA - USD 5.06/kg - USD 5.19/kg -2.4% down.
Prices are forecasted to decrease as volumes increase, and warmer weather with good rainfall arises.
Hungary: Sheep and Cattle Farmers Received Support in W50 (Dec 16)
In order to increase the financial stability of agricultural producers and to finance the financial resources necessary for production, advances and partial payments in the amount of USD 0.85B (HUF 322B) will be made this year, the Ministry of Agriculture informed Agro Napló. In W50, USD 0.012B (HUF 4.5B) will be received in the form of production-linked ewes support for more than 5K sheep farms, and USD 0.017B (HUF 6.5B) in the framework of dairy cow support for nearly 3K cattle farmers.
Russia: Meat Stock in Udmurtia Grew by 42% In 2022 (Dec 14)
The number of specialized beef cattle as of December 1 amounted to about 4K heads, which is 42.3% higher than the level of this indicator as of January 1, 2022, noted Abramova. She also said that the breeding stock has increased by 37.5% since the beginning of the year. The increase in livestock is due to the increase in the broodstock and the number of young animals, the Deputy Prime Minister explained. In general, since 2019, the beef cattle population has increased by 2.7K, (547.3%) and the number of farms has increased by 23 organizations.
Ukraine: Export of Live Cattle Increased by 16% In 11 Months (Dec 15)
In January-November 2022, Ukraine exported live cattle worth USD 31.3M, 15.9% more than in the same period last year. This is evidenced by the data of the State Customs Service. Egypt (67.7%), Lebanon (16.7%), and Jordan (13%) bought the most domestic live cattle during the 11 months of this year. Imports of live cattle in January-November 2022 fell by 66% compared to the same period last year, to USD 3.4M.
Vietnam: Hanoi Manages to Replicate the Livestock Linkage Chain (Dec 13)
According to the Hanoi Animal Husbandry and Veterinary Sub-Department, up to now, the whole city has more than 20 models of production and consumption chains of livestock products, attracting nearly 3K households and over 1K sales establishments and businesses to participate. Daily, these chains provide the market with about 26MT of pork, 2MT of beef, 13.5MT of poultry meat, 120K poultry eggs, and about 100MT of fresh milk.
Tajikistan: The Number of Cattle Increased by 4% (Dec 12)
There are more than 2.5M heads of cattle and more than 6M small cattle in Tajikistan. According to Afarali Nazarov, 93% of cattle and 83% of small livestock are in the private sector. At the same time, according to the latest data, the number of cows is more than 1.3M, sheep and goats about 6.2M, and 85K horses. According to estimates from the same period last year, the number of farm animals increased by an average of 4% in the country.
Zimbabwe: Intensify Dipping to Save Cattle (Dec 16)
It is important for farmers to intensify dipping of their livestock and follow the required intervals, especially during the rainy season to prevent the spread of tick-borne diseases since livestock is key to rural development, chief director of the Department of Veterinary Services, Dr. Josphat Nyika said. This comes as tick-borne diseases are almost under control as a result of intensive dipping and the Presidential Tick Grease blitz that saw over 2M kg of tick grease distributed to stock owners countrywide.
Fresh Beef
Tridge Analysis: YTD Korean Beef Imports Rise Despite Higher Prices (Dec 13)
Korean imports of beef (fresh, chilled, or frozen) totaled 417K MT in January-October 2022, with a total value of USD 3.76B. Imported volume rose 3% compared to the same period in 2021, while imported value rose 27%, as the average import price rose 20% to USD 10.61/kg. Fresh or chilled beef accounted for 21% of the total (down from 24% in Jan-Oct 2021), while the remainder of imports was in the form of frozen beef. The share of fresh or chilled beef fell due to a considerably higher price, at $13.46/kg, compared to frozen beef's $7.76/kg.
Data Analysis: Beef Prices in Japan Rise to One-Year High (Dec 12)
Fresh whole beef (Crossbreed, grade B5) wholesale prices in Japan rose 15% MoM to USD 16/kg (2.1K JPY/kg) on December 5th, the highest level in a year. Grade B5 corresponds to standard yield, the highest quality beef, according to the Japanese beef grading system. Prices typically rise in December as demand creeps up ahead of the New Year's Holiday, on January 1st.
Global: Economic Slowdown to Hit Beef Demand (Dec 14)
World beef production will remain stable at the end of this year and the beginning of the next, although with variations for the key markets in the southern and northern hemispheres. This was pointed out by Rabobank analysts who anticipated that total production will grow by 1.4% and trade will strengthen thanks to the strength of the dollar. However, according to bank estimates for the end of this year, the global beef industry could be negatively affected by the economic slowdown, resulting in a contraction in demand.
Europe: EU Medium-Term Outlook on Red Meat (Dec 14)
Beef production is expected to fall, with EU gross beef production predicted to continue declining to 0.6M MT (-9%) by 2032 driven by a decline in the cow herd of 2.8M head (-9.1%). A slight decline in consumption is expected to continue over the next ten years. By 2032, per capita, beef consumption may drop from 10.3kg to 9.5kg (-7.8%). EU beef and veal exports are due to grow by 2032 (+1.1% per year), mainly due to continuing demand from existing trade partners. Future trade agreements between the UK and Australia/US (not accounted for in the EU baseline) might change this picture drastically.
US: New Historical Record in the Value of Beef Exports (Dec 12)
During the first 10 months of 2022, the value of beef exports set a new historical record, derived from an 18% increase compared to the same period last year, generating an economic benefit of USD 10T. Figures from the United States Meat Exporters Federation (USMEF) indicated that the volume of shipments in this period was made up of 1.2M MT, which in interannual terms was 4% higher.
Australia: Beef Production Could Increase by 5% In the First Half of 2023 (Dec 15)
Australian beef production could increase in the first half of 2023, as the herd continues to rebuild, which would increase the supply for the US, Japanese, and South Korean markets, according to the BNN Bloomberg media. Thus, the aforementioned medium details that favorable weather conditions have improved pastures, which has allowed producers to continue increasing the number of cattle heads after years of drought, which ended in 2020, according to the Rural Bank of Australia in its perspectives.
Ireland: Beef Sector Could Benefit From Demand in Key EU Export Markets in 2023 (Dec 18)
A growing “preference” among consumers in the UK to buy beef “sourced” in Britain could pose an issue for the Irish beef industry in 2023, Teagasc has warned. Traditionally, the UK has been seen as Ireland’s second “home” market, but the latest dynamics in buying patterns may put further pressure on the beef industry to develop new markets to reduce its dependency on the UK market.
Poland: Beef Selling Prices Meat (Dec 12)
The processing plants sold compensated beef quarters from young bulls up to 2 years old for USD 5.01/kg (PLN 21.89/kg), 1% more expensive than the week before and USD 0.021/kg (PLN 0.09/kg) more than in the last week of October this year. The price of this assortment was 4% higher than in the previous year.
Brazil: Bovine Meat Production in the Biobío Region Decreased 33.9% In October (Dec 12)
Bovine meat production in the Biobío Region decreased by 33.9% in twelve months, totaling 538.1MT, mainly affected by the lower production of steer meat, according to the National Institute of Statistics (INE). Cattle auctioned off at fairs in the Biobío and Ñuble regions registered a 7.6% drop in twelve months. In the Biobío Region, the benefit of bovine cattle reached 2.1K heads, registering a YoY contraction of 33.1%.
Brazil: Increase Beef Production by 15% In the Next Decade (Dec 13)
According to the Ministry of Agriculture, Livestock, and Supply (MAPA) of Brazil, beef production could rise by 14.9% in the next 10 years. Adding the other species, meat production in Brazil would rise by 23%, and cereals by 37%, the report pointed out. The Brazilian Ministry of Agriculture, Livestock and Supply (MAPA) released the report "Brazil Agribusiness Projections 2021/22 to 2031/32", where it made predictions about various sectors, including meat.
Brazil: Bovine Trade (Dec 13)
With 2.1M MT of beef exported up to November, Brazil, through the Brazilian Association of Refrigerators (Abrafrigo) reported revenues of USD 12.2B. In both areas, the organization celebrated double-digit growth, in the case of tonnage, in the order of 25.8% and for the valuation of 44%. From January to November, there were 110 destinations that increased their imports, including China, which is the most important destination, acquiring 1.1MT.
Brazil: Matched Carcass Increased by 0.6% (Dec 13)
Beef protein prices were firm. According to Cepea researchers, part of the plaintiffs were more active in the market, with the aim of building stocks for the end-of-year festivities, a scenario that sustained meat prices. The matched carcass was sold wholesale in Greater São Paulo at an average of USD 3.74/kg (BRL 19.45/kg), an increase of 0.6% compared to the previous month.
Brazil: Angus Prospects Beef Sales to More Than 10 Markets (Dec 14)
The Brazilian Angus Association ended its participation in the Abu Dhabi International Food Exhibition 2022, on December 8, with negotiations for the sale of Certified Angus Meat to more than 10 countries, especially in the Middle East. One of the prerequisites most demanded by customers who have expressed interest in premium cuts from Brazil is quality certification and environmental and sustainability processes.
Spain: Beef Production up 5.17% In the First Nine Months of 2022 (Dec 12)
In the first nine months of 2022, Spain obtained 558.6K MT of beef, which represents an increase of 5.17% over the same period in 2021, gaining 27K MT. The autonomous community of Catalonia led the sector with 100.4K MT, an interannual increase of 2.82%. Followed by Castilla y León where the increase reached 11.46% (+9.4K MT) to reach 91.2K MT while Galicia repeated the figures of last year with 74.8K MT.
Argentina: Between the Opportunities and the Drag of the Macro for Meat Exporters (Dec 14)
Exports of beef accumulated USD 2.8B in the first nine months of the year, according to the survey of the Institute for the Promotion of Argentine Beef (IPCVA). Although there is still a quarter to be counted, the final number of points is to exceed the USD 3.5B of external sales, as a floor this year. To understand the moment that Argentine livestock is going through, it is enough to look at some numbers. In the first place, beef exports will close the year around 30% more than last year, and this is due not only to the volumes exported but also to prices, which after the pandemic recovered the values/MT, even at some point in the year they reached historical levels.
Argentina: Beef Exports Are Down for Three Consecutive Months, With Prices Drop By 20% Since April (Dec 17)
During October 2022, beef exports from Argentina fell for the third month running, dropping 3% in volume MoM, with sales revenue down 10.4%, according to Argentina’s Chamber of Meat Industry and Commerce (CICCRA). So far, exported volume dropped by 11.6% from the ceiling hit in July, whereas the price fell by 20% from the highest point in April. In the tenth month of the year, the average price paid for each ton of beef sold by exporters was USD 5.0K/MT, 10.4% below September values.
The outlook of the Chinese market changed during W49 due to the Chinese government easing measures to combat COVID-19. Forecasting that stocks will decrease due to the upcoming Chinese New Year. In W50, sales were reported from Uruguay of shin and shank at USD 6,700/MT CFR, boneless brisket at USD 4,800/MT, and block forequarter at USD 4,900/MT CFR. In addition, the Uruguayan market for the cow quarter was reactivated, with sales of up to USD 4K/MT CFR as a result of the increase in the product of Chilean origin, for which values close to USD 4,600/MT CFR were obtained.
China: Chinese Beef Imports Increased 12% In 2022 (Dec 15)
From January to September 2022, China imported 1.94M MT of fresh and frozen beef, according to AHDB. This is an increase of 205.4K MT (12%) in the same period last year. Brazil, Argentina, Uruguay, New Zealand, and Australia are the top 5 suppliers of fresh and frozen beef to China, accounting for 86.9% (1.69M MT) of the total imports.
The beef cattle industry is the largest industry in Guyuan City, and it is also the leading industry in the city's regional layout. In order to effectively solve the problem of inconsistent standards in beef cattle breeding in terms of breeds, feed, technology, and epidemic prevention, the city promotes beef cattle breeding "out of home and into gardens", to make up for the shortcomings of the industrial chain, improve the mechanism for linking the interests of enterprises and farmers, and effectively promote the transformation and upgrading of the city's beef cattle industry. There are 35 farms, 6 of which have been revitalized, and 12 have been upgraded.
China: The Development of Meat, Beef, and Sheep Production Continues to Improve (Dec 17)
Since the beginning of 2022, the national meat, beef, and sheep production have shown a good momentum of improvement and growth. According to the data of the National Bureau of Statistics, in the first three quarters, the national beef output was 4.85M MT, an increase of 3.6% over the same period of the previous year; the mutton output was 3.46M MT, an increase of 1.5%. According to the monitoring of the Ministry of Agriculture and Rural Affairs, the stock of meat, beef, and sheep has increased. From January to October, newborn calves increased by 9.7% YoY, and newborn lambs increased by 1.8% YoY. The annual beef and mutton production is expected to reach a new high by more than 2 % points.
A random survey made in various meat shops in Dar es Salaam, Tanzania shows that the retail beef meat price has increased by 12.5-25% in W50 to range between USD 3.86-4.28/kg (TZS 9-10K) from USD 3.43/kg (TZS 8K) in W49. The sharp rise in price is due to the upcoming holiday season. The beef meat prices at Vingunguti and Mazizini wholesale shops have jumped to USD 3.64/kg (TZS 8.5K) from USD 2.57/kg (TZS 6K).
South Korea: Chungcheongbuk-Do Will Reduce the Korean Beef Breeding Business Next Year (Dec 15)
Chungcheongbuk-do is drastically reducing the breeding business to stabilize supply and demand due to the continuous decline in Korean beef prices. According to the Korea Rural Economic Institute on the 15th, the average wholesale price of Hanwoo meat in October was USD 0.015K/kg (KRW 18.9K/kg), down 11% from a year ago. The researcher analyzed that the supply increased because the breeding scale was the largest ever, but the demand rather decreased due to the economic slowdown.
South Korea: Overflowing South Korean Beef, the Value of the Meridians May Plummet by 22% Next Year (Dec 16)
The number of slaughtered animals is expected to rise by 10% compared to this year and fall below the USD 0.014/kg (KRW 18k/1kg) mark. Analysis indicated that the value can plummet by up to 22% compared to the current level hence giving a big shock to the industry. As a result, the demand for participation in supply and demand control is growing. By 2023, the price of Korean beef is likely to fall to the USD 0.012 (KRW 15K) level.
Venezuela: Beef Consumption Continues to Rise (Dec 13)
The consumption of meat/per person in Venezuela rose from 8 kg to 10 kg in one year, which represents an increase of 25% compared to 2021, according to various local media from the National Federation of Cattlemen (Fedenaga). There has been a recovery in the consumption of beef. Today we are around 10 kg/capita, but we come from a fall that was very significant.