Beef production expected to remain stable in 2024 and 2025 in the EU

Published Oct 30, 2024

Tridge summary

The EU is projected to experience a decline in beef production in the next couple of years due to structural adjustments, with a decrease of 0.5% in 2024 and 1% in 2025. Despite a tight cattle supply, the region's beef exports, especially to Turkey, are doing well. However, per capita beef consumption in the EU is expected to decrease, with a 1.7% drop in 2024 and further reduction of 1.2% in 2025. The first half of 2024 saw a 3% increase in beef production, largely due to higher slaughter numbers in Italy and Poland. However, a shortage of young cattle is anticipated to contribute to a slight decline in production by the end of 2024. High beef prices, coupled with moderating feed prices and high carcass prices, are expected to maintain strong producer and live animal prices, providing better margins for fatteners. The downward production trend is set to continue in 2025 due to reduced herds, leading to a further decrease in per capita beef consumption.

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

Original content

According to the latest EU short-term outlook report, structural adjustment will lead to a decline in EU beef production of 0.5% in 2024 and 1% in 2025. Despite tight cattle supply, EU beef exports continue to perform well according to the Commission report, in particular to the Turkish market. Against this backdrop, EU beef consumption per capita fell by 1.7% in 2024 and is expected to decline further by 1.2% in 2025. EU beef production increased by 3% in the first half of 2024 compared to the previous year, mainly due to a significant increase in slaughter in Italy (+9%) and Poland (+20%). The increase may have multiple causes, such as poor pasture conditions in central Europe and increasing demand in certain export markets (Turkey). However, by the end of 2024, beef production is expected to decline slightly (-0.5%) due to a shortage of young cattle in some EU countries (e.g. Italy and Spain). Tight beef supplies continue to support EU beef producer prices and live animal ...

Source: Agromeat