Global demand for beef continues to remain strong with first quarter 2014 prices driven up worldwide by tightening supplies due to drought-induced herd reduction in the U.S. and adverse weather conditions in both Brazil and Australia – the world’s top three beef exporters. Given these conditions combined with fluctuating exchange rates, Brazil and Australia have gained export share at the expense of the U.S. In the U.S. the impact of the spread of Porcine Epidemic Diarrhea virus on the hog market and on the total meat supply could strengthen demand for beef coming into the grilling season. In Australia drought conditions are causing historically high slaughter levels and a high flow of cattle to market is expected to continue. In Brazil domestic demand is expected to increase because of the World Cup and the presidential elections and exports will continue to be high on the depreciation of the dollar. China will continue to need increasing imports of frozen beef with Australia remaining the biggest supplier supplying 53% of total imports in 2013. To read about the conditions in the beef markets of additional countries:
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