By Andi Anderson
Recent data from the USDA's Foreign Agricultural Service (FAS) sheds light on the evolving dynamics in the world's meat export market. The findings reveal notable changes in the contributions of key players.
In 2024, the European Union's (EU) pork, beef, and chicken meat exports are expected to make up 15 percent of global exports. This marks a substantial decline from the 20 percent share observed in 2019. Several factors contribute to this shift.
- Pork: EU pork exports are forecasted to decrease by 25 percent compared to 2019. The African swine fever has posed challenges to swine producers, leading to a reduction in the swine herd and limited exports. Growing regulatory requirements further impact production and export prospects.
- Beef: EU beef production is expected to decline by 8 percent between 2019 and 2024. Regulatory burdens play a role in this decline, and both exports and production continue to decrease.
- Chicken: Although EU chicken production is predicted to grow by 2 percent from 2019 to 2024, exports as a percentage of production are projected to fall to 16 percent in 2024 from 20 percent in 2019. Highly Pathogenic Avian Influenza (HPAI) has hindered production growth and exportable supplies.
Brazil's Growing Role: In contrast, Brazil's pork, beef, and chicken meat exports are set to rise from 20 percent to 26 percent of the global market during the same period. This growth can be attributed to various factors, including favorable market conditions and expansion in production capabilities.
US Meat Production: The United States, while expecting to remain relatively unchanged in its global meat market share at 22 percent, anticipates variations within its different meat sectors.
- Beef: U.S. beef production is projected to decline by 6 percent, driven by tighter cattle inventories. Imports are forecasted to increase due to this decline in production and competitive supplies from other major suppliers like Australia and Brazil.
- Pork: U.S. pork production is predicted to increase by 2 percent, reaching 12.7 million tons, supported by factors such as improved pigs per litter and falling feed costs.
- Chicken: U.S. chicken production is estimated to rise by 1 percent, reaching a record 21.4 million tons in 2024. This growth is underpinned by slightly reduced feed prices and is expected to boost exports, particularly to key markets such as Mexico and Canada.
The global meat export landscape is undergoing significant shifts, with Brazil's prominence on the rise and the EU facing challenges. These trends have implications for international trade and domestic production within each region.
Photo Credit: istock-apichsn
Categories: Illinois, Livestock