Market fundamentals remain very positive for the global beef industry, according to Rabobank’s most recent beef report.
Analysing the report Margaret McCarthy, Amsterdam Office Manager, Bord Bia said: “Firm demand, as well as further tightening supply following adverse weather conditions in North and South America, pushed global beef prices higher in Q1 2014.”
She outlined: “On the demand side, Rabobank suggest that beef demand growth will continue to come mainly from China, although growth is not expected to be as high as the levels reached in 2013. The market opening for Australian chilled fresh beef products is boosting import volumes, accounting for more than 50% of imports in 2013. Reports suggest that the market may open for Brazilian beef over the coming months.”
McCarthy noted: “Prospects for the global beef industry remain positive over the coming months as continuing pressure on beef supplies and tight availability of competing proteins will boost price levels according to Rabobank.”
Source: Agri Land Ireland