19-4-2013 — /europawire.eu/ — According to a report by Rabobank, the European horsemeat scandal has had hardly any impact on consumer demand and resulting beef prices. The outlook for the global beef industry is mixed, but overall global beef production is likely to remain constrained and demand is set to weaken in the face of growing inflation across the globe.
The outlook for the rest of the global beef industry is mixed:
- Latin America – companies in Brazil, Uruguay and Paraguay are expected to deliver reasonable margins as the beef/cattle ration has increased due to higher availability of live animals and buoyant exports.
- Australia & New Zealand – prices have declined on the back of unfavorable weather conditions which has led to increased throughput at the processer level. Whilst this is bad news for ranchers and feedlots, the packing segment will continue to profit in this environment.
- China – imports from Australia and New Zealand have soared. The reason is flat production rates (farmers continue to show little enthusiasm for the herd expansion, the capital requirements and high disease risk inhibit investment) which are failing to meet domestic demand. Furthermore the tightening of the grey channel will increase the need to import beef through formal channels.
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