Those are the important thing issues from Rabobank’s international animal protein outlook for 2024.
North The usa
Red meat manufacturing in the USA continues to contract with the cycle, overshadowing adjustments in different species. Poultry will take pleasure in client personal tastes, whilst beef nonetheless must rebalance. The outlook for Mexico is reasonably extra certain.
Europe
There are ongoing manufacturing pressures for all species, given illness dangers, market- and regulatory-driven manufacturing device adjustments, and decrease exports. Poultry intake is ready to develop, whilst beef and pork will decline.
China
Gradual intake will proceed to drive the animal protein device in 2024. Poultry is easiest positioned, with stable enlargement in manufacturing and intake. Red meat and pork markets will stay below maximum drive, because the marketplace is easily provided, no less than within the first part of 2024.
Brazil
Manufacturing is ready to develop for all species, supported by means of export alternatives. Red meat will develop quickest, adopted by means of poultry. Illness stays a problem possibility, particularly for poultry.
Southeast Asia
The recuperating financial state of affairs and easing of illness pressures will have to reinforce manufacturing enlargement in 2024. Red meat leads enlargement, even though is matter to ongoing ASF drive, adopted by means of poultry. Red meat will simplest see minor alternate from 2023.
Australia & New Zealand
The rebuilding of Australia’s pork herd method manufacturing and exports will develop in 2024. New Zealand’s manufacturing is predicted to sluggish reasonably for pork and enlarge reasonably for sheepmeat.
Feed and forage
Feed value aid will proceed into 2024. Falling prices are serving to to revive margins, however outdoor components proceed so as to add uncertainty.
November 30, 2023/ Rabobank.
https://analysis.rabobank.com