April 15, 2008

China beef prices to go up on strong demand, scant supply

Chinese industry analysts forecast beef prices to go up in the country due to the increasing demand and the failure of beef production to catch up.

The number of fertile cow is decreasing as some farmers sold feeder cattle and fertile cow for fear of price declines.

Furthermore, the tight supply and the surging prices in the global markets are also expected to drive Chinese beef costs.