Global beef production expected to increase slightly in 2019
In 2019, the global beef production is expected to reach 63.6 million tons. The increase will be primarily based on three main producers, Brazil, the United States, and Argentina.
USDA's Foreign Agricultural Service's report "Livestock and Poultry: World Markets and Trade" expects the production in Brazil to be driven by steady domestic demand and solid export growth to key Asian markets. Argentina's growth, on the other hand, is expected to be based on rising weights in response to stronger export demand for heavier animals.
Moreover, the report says that Australia's beef production will be lower because of lower cattle numbers at the start of 2019. "Australia’s persistent hot and dry weather conditions have led to deteriorating pasture conditions, high grain prices, and low water supplies, forcing more cattle into feedlots." USDA expects there will be fewer cattle available for slaughter in 2019.
Meanwhile, the global beef exports in 2019 are forecast flat at 10.6 million tons. This is due to the declines that Australia and India will witness next year. On the other hand, Brazil, Argentina and the United States are expected to offset these shortages.
The report expects China and Hong Kong’s ever-rising beef demand to remain strong as stagnant domestic production and looming disease uncertainties in competing meat proteins fuel consumption.
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