USDA: Global beef production to reach 59.6 million tons

Global beef production for 2023 is forecast to reach 59.6 million tons (+0.4% vs 2022), up 1% from April’s forecast, according to the USDA’s latest outlook.

мировое производство говядины составит 59,6 млн тонн

Source: meatinfo

The production growth will be provided by Argentina – by 6% due to the further liquidation of the herd caused by drought, New Zealand – by 3%, the USA – by 1%.

At the same time EU beef production continues to decline, as production is expected to fall by 1.8% in 2023. Total EU exports are predicted to fall by 5% in 2023 as a result.