Global beef production for 2023 virtually unchanged - FAS report

Global beef carcass prices eased entering 2023
calendar icon 13 January 2023
clock icon 1 minute read

According to a recent USDA Foreign Agricultural Service (FAS) report, global beef production for 2023 is virtually unchanged from the October forecast at 59.2 million tons. 

Global beef carcass prices have eased entering 2023 — except for the United States. Nevertheless, carcass prices among major exporters are still relatively high when compared to pre-pandemic levels, suggesting limited supplies and firm demand from key markets.

Global beef exports for 2023 are virtually unchanged from the October forecast at 12.2 million tons. 

China imports are raised given the lifting of COVID-19 restrictions which will strengthen HRI demand. 

Australia and Brazil are expected to gain market share due to lower exportable supplies in the United States, Uruguay, and Argentina. 

US imports are also raised as lower US beef production supports additional imports from Brazil and Australia.

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