Global beef and veal production to remain unchanged in 2024, according to a GAIN report

Published 2023년 11월 13일

Tridge summary

Global beef and veal production is expected to remain unchanged in 2024, as increases in Brazil, China, and India are offset by declines in the United States, Argentina, Canada, and the EU. Brazil's production is projected to reach a record high due to economic recovery, while China and India's production is driven by rising demand. In contrast, the United States is expected to experience a decline in production, leading to increased imports and decreased exports.

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Original content

Global beef and veal production in 2024 is forecast virtually unchanged at 59.1 million tons as increases in Brazil, China, and India are offset by declines in the United States, Argentina, Canada, and the EU, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report. Brazil production is expected to rise 3% to a record 10.8 million tons as economic recovery supports domestic demand. China production is higher due to a marginal increase in cow inventory while India production is driven by rising slaughter to meet increasing international and domestic demand. Argentina production is forecast lower as slaughter returns to levels closer to recent history after drought-induced liquidation in 2023. Contraction in the Canadian herd is forecast to continue with cattle inventories dropping to the lowest level in the past 35 years. EU production continues to be confronted with high input prices and a complexity of regulations, which ...

Source: The Cattle Site