News

USDA lowers global pork production forecast by 1%

Other Frozen Pork Cuts
Brazil
Published Jan 20, 2024

Tridge summary

The USDA has reduced its estimate of global pork production for this year by one percent to 114.2 million tons, citing declines in the European Union, China, and Brazil. This adjustment is due to changing consumer preferences, regulatory pressure, and weak demand in these countries. As a result, the forecast for global pork exports for the current year was also reduced by two percent to 10.2 million tons. Despite the decrease in production, the United States is maintaining strong pork exports to Canada and Mexico.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The US Department of Agriculture (USDA, USDA, publishes data and forecasts on agricultural indicators not only in the States, but also in other major producing countries - ROSNG) has reduced its estimate of global pork production this year by one percent from the previous estimate, or to 114 .2 million tons. This was reported by Finmarket with reference to the ministry’s review. In exact figures, 115.5 million tons were previously expected, which is 300 thousand more than last year. The downward adjustment was made due to expectations for a decline in the indicator in the European Union, as well as China and Brazil. For the European bloc, the estimate was reduced by 450 thousand tons to 20.7 million. The reasons were the changing preferences of European consumers and ongoing regulatory pressure on the domestic pork market. In China, the production of this meat is estimated at 55.2 million, which is 750 thousand tons less than the old estimate and 1.7 million less than last year’s ...
Source: Rosng
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