Beef cattle market (Baptiste Buczinski)
Welcome to our monthly section Cattle Market Outlook, where we examine the latest prices in the beef cattle markets to ensure you stay well-informed. Don’t miss out on any crucial information – keep an eye on our News and Events section.
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GLOBAL RESULTS: BEEF CATTLE MARKET REPORT
This September shows how beef prices continue to fall in Europe, Brazil, and China, but remain strong in the U.S.
EUROPE: CATTLE PRICES
European finished cattle prices remained under pressure throughout August and into early September. Consumption was disrupted by heat waves and inflation. With lower inflation and temperatures, prices have started to rise in some places in September.
USA: BEEF CATTLE MARKET OUTLOOK
Cattle prices remained strong in August, largely unchanged from the previous month, as cattle supplies tightened. With seasonal beef demand expected to be higher and fed cattle supplies tightening, prices are not expected to fall further. However, according to the USDA, packers have recently continued to slow the pace of fed cattle slaughter, primarily by reducing processing.
BRAZIL: CURRENT BEEF CATTLE PRICE
Brazilian finished cattle prices fell sharply in August (-24% vs. 2022). According to CEPEA, the pressure on prices came from both supply and demand: a higher number of animals are ready for slaughter and many slaughterhouses have reduced purchases due to longer slaughter periods and lower prices paid by China for Brazilian beef.
CHINA: BEEF MARKET
After several months of decline, beef prices in China rose in August. But it may not last. According to the USDA (GAIN report), China faces headwinds for the rest of 2023. These headwinds will affect beef (and pork) consumption, production, and trade. China’s beef imports should remain under pressure due to flat demand.