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Beef imports to say no, pork to stay flat
5 September 2023
2 minute learn
The financial system of China is anticipated to face headwinds for the rest of 2023 that ought to proceed into 2024 regardless that officers are exploring numerous stimulus efforts, a current US Division of Agriculture (USDA) International Agricultural Data Community (GAIN) report stated.
The headwinds will influence consumption, manufacturing, and commerce for each pork and beef. FAS China forecasts beef imports will decline in 2024 owing to flat demand and forecasts that pork imports for 2024 will stay comparatively flat. Reside cattle imports in 2024 are forecast to develop as Myanmar obtained official market entry in July 2023.
Swine manufacturing in 2024 is forecast to say no by 1% year- on-year to 695 million head resulting from, on common, decrease sow inventories in 2023. Reside swine imports in 2024 are forecast to develop from 5,000 to six,000 head with business curiosity in herd enlargement.
Pork manufacturing in 2024 is forecast to say no 1% to 55.95 million metric ton from decrease slaughter and decrease stock of fattened swine. Producers are anticipated to proceed managing potential animal illness outbreaks with out considerably affecting total manufacturing volumes. Pork imports in 2024 are anticipated to remain at comparable ranges as recorded in 2022 and 2023.
Calf manufacturing in 2024 is forecast to develop by lower than 2% to 55.5 million head owing to marginal will increase within the cow stock in 2023. Cattle imports in 2024 are forecast to develop to 250 thousand head from the estimated 230 thousand head in 2023 owing partially to Myanmar’s new market entry for beef cattle for slaughter. Nevertheless, worth strain on home dairy and beef cattle is anticipated to curb curiosity by business members to increase the livestock herd and will soften demand for imported cattle for breeding functions.
Beef manufacturing in 2024 is anticipated to stay at traditionally excessive ranges, however year-on-year progress might gradual in response to financial situations. Imports of beef for 2024 are forecast to say no to three.32 million metric ton resulting from monetary challenges going through importers, flat shopper demand, and better manufacturing. Decrease-priced grass- fed beef will proceed to dominate the import market.
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