April 14, 2011
 

EU beef deficit to increase next year

The EU15 market is forecast to have an increasing beef deficit of 214,000 tonnes cwt in the following year, with output to decrease as consumption becomes more stable.

The forecast for the larger deficit in 2012 was reported after a recent meeting of the EU Commission Advisory Group on Beef (UECVB).

However in 2011, a larger decline in EU15 beef consumption, when compared to the fall in production, is forecast to reduce the beef deficit to 157,000 tonnes cwt.

According to reports, the fall in the EU15 cattle herd and beef production has slowed, with cattle prices recovering after 2009's fall. EU cattle prices are expected to be firm in both 2011 and 2012.