World trade is coming with improvements

Published Nov 4, 2024

Tridge summary

The USDA projects a 9% increase in global beef exports in 2024, with Brazil and Australia contributing significantly to this growth. The export volume is expected to stabilize in 2025 at 12.9 million tons. Meanwhile, international beef prices have seen a decrease from the peak in June 2022. In the first 10 months of 2024, the US has imported 17% more beef than the previous year, while China has increased its beef imports by 6%. Record breaking beef export volumes are expected from Brazil, Australia, and Argentina in October, September, and the first nine months of the year, respectively.

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

Original content

The recent report from the United States Department of Agriculture (USDA) corrects for the fourth consecutive time – upwards – its estimates on global beef exports for 2024, which it now projects at 12.9 million tons, some 900 thousand tons (+9%) more than in 2023. Together with the jump recorded in 2013, this year's would be the most important increase in the volume exported worldwide in the last two decades. Of the 932 thousand tons that global demand for beef grew this year, 678 thousand were covered by Brazil and 305 thousand by Australia. Most of the rest of the exporting countries have much more modest variations in the volume shipped. For 2025, the USDA projects this ranking of exporting countries: 1. Brazil, with 3.6 million tons (MT), with a 1% increase compared to 2024. 2. Australia, with 1.9 MT (+2%). 3. India, with 1.6 MT (+4.4%). 4. United States, with 1.18 MT (-12%). 5. Argentina, with 860 thousand tons (+5%). 6. New Zealand, with 685 thousand tons (+1.5%). 7. ...

Source: Campototalweb