The U.S. Department of Agriculture’s Foreign Agricultural Service has predicted global beef production in 2013 will reach 57.5 million tons, “virtually unchanged” from its October 2012 estimate, despite a sharp downward revision for India, which was offset by increases for a number of other countries.
Although still forecast to be a record, global beef exports are predicted to drop by 355,000 tons to 8.6 million, fueled by a more restrained outlook for India, but higher amounts for Brazil and Australia. The USDA FSA’s “Livestock and Poultry: World Markets and Trade” report also showed that import demand in East Asia, particularly in China and Hong Kong, is expected to be stronger, while other key markets will be weaker on lower consumption, such as Mexico, or increased production, such as South Korea.
Moreover, the report’s predictions for global pork production have been revised upward to a record 107.4 million, based on anticipated lower feed prices. Exports have been reduced by 90,000 tons to 7.2 million tons on downward revisions to the European Union, the U.S. and Brazil.
Additionally, broiler meat production has been revised upward to 84.6 million tons, with the majority of gains provided by the U.S., Thailand and Russia. World export projections also increased by 262,000 tons to 10.3 million, bolstered by higher exports from the U.S., Turkey and Ukraine.