News

Global demand for beef is reflective in the cattle market, positive multi-year outlook

An animal protein analyst is optimistic about the future of the cattle markets as global demand has been strong.  

Don Close is with Rabo AgriFinance. “Global demand for beef is incredibly good. We’re looking at contracting supplies in North America.  Very manageable supplies of cattle globally.  As a result, I think the outlook not only for 2022 but for the next several years is very good.”

He tells Brownfield beef exports from Brazil have balanced out with recent BSE cases and Australia is building back their inventory at a slower pace than usual. “In Australia, we’re seeing a tendency that producers are continuing to sell females into the open market instead of retaining so they’re build back of inventory of supply will be very slow in relationship to historical buildups.”

Close says that’s already being reflected in the cattle prices. “We’re $20 over a hundred where we were just weeks ago.  We’ve got just an incredible rally.”

Close spoke with Brownfield at the Nebraska Cattlemen’s Convention.

Don Close, Rabo AgriFinance:

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!