Global pork quarterly Q1 2024, according to Rabobank

Published Feb 15, 2024

Tridge summary

In 2024, countries like China, the US, and some European nations are predicted to further reduce their sow herds due to issues such as disease, negative profit margins, oversupply, and weak demand. Despite these challenges, productivity is anticipated to rise due to genetic advancements, improved farm management, and cost-cutting strategies. Corn and soybean prices have seen a decrease of 15% to 25% in the past year, with further reductions possible due to stagnant demand and increasing inventory. However, despite inflation, pork remains popular among consumers, and a predicted easing of inflation in 2024 is expected to bolster global pork consumption.

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

Original content

Following various challenges in 2023, several growing regions will continue to reduce their sow herds in 2024, albeit at different paces. China, the US, and some European countries will likely experience declining or flat production this year, as their sow herds were smaller at the end of 2023. Disease pressure will further depress the production outlook across the globe. Other challenges, such as negative profit margins, oversupply and weak demand, are also important drivers of destocking. Meanwhile, productivity will continue to improve in 2024, driven by genetic gains, better farm management and cost reduction strategies. Corn and soybean prices have declined by 15% to 25% over the past 12 months. Further price declines of feed grains are possible given the stagnant demand and rising inventory globally, although the weather could potentially change the direction of supply and price movements beyond Q1. Pork is ...

Source: EuroMeat