USDA global meat forecast remains unchanged

Brazil continues to make export gains in all sectors
calendar icon 18 July 2023
clock icon 1 minute read

The outlook for global meat trade remains relatively unchanged from the prior (April) forecast, according to a recent USDA Foreign Agricultural Service report

Beef and chicken meat exports are not significantly revised while pork is raised 2% from the last forecast. However, Brazil continues to make export gains and set new records for beef, pork, and chicken meat.

Brazil beef exports are revised 1% higher to 3.1 million tons on greater production and firm China demand. Brazil cattle prices have declined significantly compared to main competitors – Uruguay and Argentina – and lower beef prices support shipments to Southeast Asia, South America, and Middle East markets.

Brazil chicken meat exports are revised 2% higher to 4.8 million tons on firm shipments to Asia, the Middle East, and smaller developing markets. As of July 12, Brazil remains free of highly pathogenic avian influenza (HPAI) in commercial operations and does not face restrictions as key competitors do.

Brazil pork exports are revised 8% higher to 1.5 million tons on strong exports to most Asia markets, including particularly robust shipments to China and Hong Kong. Declining feed prices in Brazil are anticipated to further incentivize production and bolster price competitiveness.

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