EU beef herd forecast to decline further in 2023

Published Jan 14, 2023

Tridge summary

The Bord Bia Export Performance and Prospects Report 2022/2023 predicts a decrease in the EU beef herd in 2023, with significant reductions in France, Spain, Italy, and the Netherlands, while the UK is expected to see a slight increase in beef supplies. The global and EU beef markets face uncertainty, with well-balanced supplies expected to dictate price trends, influenced by consumer sentiment and cost-of-living factors. The USDA anticipates a slight decrease in global beef supplies, with demand from Japan and South Korea compensating for a potential drop in China. The report emphasizes the importance of Irish beef's positioning as a high-quality, sustainable product in a market affected by a cost-of-living crisis.

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

Original content

The Bord Bia Export Performance and Prospects Report 2022/2023 has outlined that the EU Commission has forecast the size of the EU beef herd to decline further in 2023. The report outlines that notable reductions in the beef herd are likely across several markets, including France, Spain, Italy and the Netherlands. The report also notes that UK beef supplies however, are expected to show “a small increase” in 2023 compared to 2022 levels. The outlook for beef export markets “remains uncertain for 2023”, according to the report. It notes that both global and EU beef supplies look set to remain “well balanced”, and outlined that the critical factor in determining price developments will be the impact of cost-of-living factors and consumer sentiment on beef-purchasing behavior. Advertisement In global terms, beef supplies are forecast by the United States Department of Agriculture (USDA) to decrease marginally, largely driven by a decline in the US herd resulting from recent drought ...

Source: AgriLand