Global beef production forecast slightly lower for 2023 - GAIN report
Brazil production is expected to increase 1%
17 October 2022
1 minute read
By: Global production is forecast fractionally lower in 2023 as falling North America and EU production offsets gains in Brazil, China, and Australia, according to the most recent USDA-FAS GAIN report.
Brazil production is expected to increase 1% based on firm global demand in key markets although higher input costs and a weak domestic market will constrain growth.
In China, higher cattle inventories are anticipated to support a 5% increase in beef production.
Meanwhile, Australia production is expected to surge 13% on improved pasture conditions.
