Red meat imports to say no, red meat to stay flat
5 September 2023
2 minute learn
The economic system of China is predicted to stand headwinds for the rest of 2023 that are supposed to proceed into 2024 even supposing officers are exploring more than a few stimulus efforts, a contemporary US Division of Agriculture (USDA) World Agricultural Knowledge Community (GAIN) document stated.
The headwinds will have an effect on intake, manufacturing, and industry for each red meat and red meat. FAS China forecasts red meat imports will decline in 2024 owing to flat call for and forecasts that red meat imports for 2024 will stay reasonably flat. Reside livestock imports in 2024 are forecast to develop as Myanmar gained legit marketplace get entry to in July 2023.
Swine manufacturing in 2024 is forecast to say no by way of 1% year- on-year to 695 million head because of, on reasonable, decrease sow inventories in 2023. Reside swine imports in 2024 are forecast to develop from 5,000 to six,000 head with business hobby in herd growth.
Red meat manufacturing in 2024 is forecast to say no 1% to 55.95 million metric ton from decrease slaughter and decrease stock of fattened swine. Manufacturers are anticipated to proceed managing doable animal illness outbreaks with out considerably affecting general manufacturing volumes. Red meat imports in 2024 are anticipated to stick at equivalent ranges as recorded in 2022 and 2023.
Calf manufacturing in 2024 is forecast to develop by way of lower than 2% to 55.5 million head owing to marginal will increase within the cow stock in 2023. Farm animals imports in 2024 are forecast to develop to 250 thousand head from the estimated 230 thousand head in 2023 owing partly to Myanmar’s new marketplace get entry to for red meat livestock for slaughter. Alternatively, worth drive on home dairy and red meat livestock is predicted to curb hobby by way of business contributors to make bigger the farm animals herd and may just melt call for for imported livestock for breeding functions.
Red meat manufacturing in 2024 is predicted to stay at traditionally prime ranges, however year-on-year expansion would possibly gradual based on financial prerequisites. Imports of red meat for 2024 are forecast to say no to a few.32 million metric ton because of monetary demanding situations going through importers, flat shopper call for, and better manufacturing. Decrease-priced grass- fed red meat will proceed to dominate the import marketplace.