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% expected in 2024 and 1% in 2025. Despite a tight supply, meat exports, especially to Turkey, are doing well. Per capita beef consumption in the EU also saw a decrease of 1.7% in 2024. However, a surge in slaughtering in Italy and Poland in the first half of 2024 led to a 3% increase in beef production. This increase is attributed to poor grazing conditions and growing demand in export markets. However, a shortage of young bovines is expected to cause a slight decline in production by the end of 2024. The tight beef supply is supporting producer prices and the price of live animals, with feed prices and high carcass prices expected to improve margins for fatteners. The downward trend in beef production is expected to continue in 2025 due to shrinking herds, leading to a further decline in per capita beef consumption.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According the most recent EU short-term outlook report, continued structural adjustment will drive a decline in EU beef production by an expected 0.5% in 2024 and 1% in 2025. Despite tight supply, EU meat exports continue to perform well, in particular to the Turkish market. EU per capita beef consumption dropped 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 year-on-year, mainly due to a significant increase of slaughtering in Italy (+9%) and Poland (+20%). The increase may have multiple causes, such as bad grazing conditions in central Europe and a growing demand in certain export markets (Türkiye). However, by the end of 2024, beef production is expected to decline slightly (-0.5%) due to a shortage of young bovines in some EU countries (e.g. Italy and Spain). The tight beef supply continues to support EU beef producer prices and the price of live animals. The moderation of feed prices and high ...
Source: The Cattle Site
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