The numbers of the domestic cattle in Hungary's market are on the decline

Published 2023년 2월 8일

Tridge summary

In 2022, Hungary saw a 10% decrease in cattle and cow slaughter, with live cattle exports and imports also declining. Despite a 19% drop in beef exports, their value rose by the same amount. In contrast, beef imports and their value increased by 1% and 42% respectively. The USDA forecasts a 5% decrease in US beef production with a 17% increase in producer prices for fattening bulls and slaughter cows in the first quarter of 2023. Brazil saw a 15% decrease in cattle prices in January 2023, but beef exports surged by 23%, with 71% more going to China. The EU saw price increases for young bulls, cows, and heifers. Hungary continued to experience a downward trend in live cattle exports and imports, but there was an increase in the value of beef imports.

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

Original content

In 2022, the total slaughter of cattle and cows decreased by 10 percent compared to 2021 in Hungary. Our live cattle exports decreased by 2 percent and our live cattle imports decreased by 4 percent in January-November 2022 compared to the same period in 2021. The volume of beef exports also decreased by 19 percent, but at the same time, its value increased by 19 percent. The volume of beef imports increased by 1 percent, while its value increased by 42 percent in the observed period. According to the forecast published by the United States Department of Agriculture (USDA) in January, US beef production may decrease by 5 percent in the first quarter of 2023 compared to January-March 2022. USDA experts expect a 17 percent increase in producer prices for fattening bulls and slaughter cows at the same time. Internal consumption may be 4 percent less, beef imports 14 percent, and beef exports 10 percent less. U.S. beef and veal production increased 1 percent in 2022 compared to 2021, ...

Source: Magro