In Rabobank’s latest report on the global beef industry, it forecasts further upside for the beef industry for the remainder of 2013 and through 2014. Demand should remain strong because of the global economy’s slow recovery and demand from China in particular. With the Chinese New Year in February it could alter imports surging into the country and could change traditional trade patterns as Australian exporters move product to the nearby Chinese market instead of to the U.S. market where supplies are tight. In the U.S., the issues surrounding the use of beta agonists in cattle feed will have a negative effect on the industry and will have a global effect through higher prices. In South America prices increased because of tight supply and increased exports from Brazil while in Argentina the industry was affected because of export taxes. In Oceania weather patterns had a negative effect upon the beef industry however favorable forecasts for spring have boosted confidence in the New Zealand beef sector. To read more:
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service