November 29, 2011


World beef 2012 production forecast to remain stable


Forecast for 2012 total world beef production is seen unchanged at 56.8 million tonnes maintaining New Zealand beef prices at the same level.


The USDA Livestock and Poultry: World Markets and Trade, forecasts a 5% decline in US beef production to 11.5 million tonnes will be offset by higher production from India (3.3 million tonnes), Brazil (9.2 million tonnes), and Argentina (2.5 million tonnes). Australian beef production is anticipated to increase 2% on-year on the back of higher slaughter, to 2.2 million tonnes.


Total global beef exports are forecast to rise 5% in 2012, to 8.2 million tonnes cwt, on the back of stronger global demand, particularly from South East Asia, the Middle East and North America. USDA says India (1.28 million tonnes) is expected to account for nearly half of the world's export growth in 2012, with price competitive shipments increasing to emerging markets. Australian beef exports are expected to increase moderately in 2012, to 1.38 million tonnes underpinned by increased production. Brazilian beef exports are forecast to reach 1.375 million tonnes in 2012, with the US at 1.25 million tonnes. Russia is again expected to be the world's largest beef importer in 2012, forecast to receive 1.06 million tonnes cwt, ahead of the US at 948,000 tonnes and Japan with 725,000 tonnes.

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