Rabobank: EU beef prices increase despite higher supply

Published 2024년 11월 29일

Tridge summary

Rabobank's report highlights an increase in beef prices in the EU, attributed to higher demand and supply levels, with a forecast of global beef supply reductions due to herd contractions in major producing countries like Brazil and the US by 2025. Despite this, EU beef production increased by 3% in the first eight months of 2024, with notable growth in Poland, Italy, Spain, UK, Germany, and the Netherlands. However, the report suggests that this production growth may not be sustainable due to the structural decline of the cattle herd, particularly in France, Germany, and Ireland, where the cow herd has contracted. Despite the challenges, EU beef exports are expected to remain robust, showing dynamic market trends.

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

Original content

Beef prices in the EU have seen further increases, against the backdrop of “higher supply” levels this year which indicates stronger demand, according to a new report published by Rabobank. According to the RaboResearch report, herd contraction in the world’s four largest beef producing countries is going to lead to the “first global beef supply reductions since the Covid-19 pandemic and will alter trade flows”. Rabobank has forecast that Brazil and the United States are likely to lead production declines in 2025, but reductions in China, Europe, and New Zealand are also likely. This is in contrast to trends during this year when there was higher beef production in the EU 27 states and the UK – it rose by 3% year on year in the first eight months of 2024. “Beef production in Poland, Italy, Spain, UK, German and the Netherlands was up by 22%, 9%, 4%, 3%, 2% and 1% respectively while in France and Ireland it was down by 1% and 0.5% respectively,” the report detailed. Beef markets ...

Source: AgriLand