Beef cattle market (Baptiste Buczinski)
Welcome to our monthly Cattle Market Outlook, where we explore the key trends impacting beef prices across the world to ensure you stay well-informed. Join us as we also shed light on the challenges and opportunities defining the dynamic landscape of the beef industry.
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GLOBAL RESULTS: BEEF CATTLE MARKET REPORT
After several months of decline, beef prices are rising in Europe and Brazil. Prices are under pressure in the United States and China.
BEEF CATTLE MARKET OUTLOOK IN EUROPE
Demand for male beef was fairly good at the end of 2023, and prices rose in December in the main EU countries.
USA BEEF CATTLE MARKET TRENDS
In 2023, all slaughter categories were lower than the previous year. The inflation rates for animal products were all lower than inflation rates for all items and foodstuffs. However, consumer prices remained high, impacting consumption. In December, prices for fattening steers declined from November.
BEEF PRICES IN BRAZIL
After bottoming out in late August, beef prices returned to a higher level at the end of 2023. Domestic demand was weak in the first half of the year but began to increase again in August, in line with the fall in prices. Beef exports to all destinations grew at a good pace in 2023. CEPEA expects Brazilian beef exports to remain firm in 2024.
BEEF CATTLE MARKET PRICE IN CHINA
Beef prices were still under pressure at the end of 2023. In January, China lifted a two-month suspension on Irish beef exports. Beef shipments had been suspended following the discovery of an isolated case of atypical bovine spongiform encephalopathy (BSE) in November 2023.