Global beef exports revised upwards - USDA
Global beef exports for 2024 revised 1% higher
19 January 2024
1 minute read
By: Global beef exports for 2024 are revised 1% higher from the October forecast to 12.1 million tons, according to the most recent USDA World Markets and Trade report for livestock and poultry.
Shipments by Brazil and Australia are revised upward on ample production and firm global demand.
Australia and Brazil, the world’s leading exporters, will benefit from robust US import demand spurred by declining domestic production.
However, Brazil shipments will be constrained by US beef import quotas whereas Australia shipments are unlimited and duty-free due to the United States-Australia Free Trade Agreement.
The forecast for China demand is slightly improved despite slower expected economic growth.
