Weaker global beef production is expected to support prices in the second half of 2024, according to a recent report. Global beef production is anticipated to contract in the second half of 2024, leading to a boost in prices.
This trend is expected to continue, with production declines in key regions such as Europe and North America contributing to the tighter global supply. As a result, beef prices are likely to remain strong in the second half of 2024, providing a positive outlook for the industry[1][2][3].
Citations:
[1] https://www.rabobank.com.au/media-releases/2024/weaker-global-beef-production-set-to-support-prices-in-second-half-of-2024
[2] https://www.interest.co.nz/sites/default/files/2024-06/Media Release - Weaker global beef production set to support prices in second half of 2024.pdf
[3] https://pulse.auctionsplus.com.au/aplus-news/insights/decline-in-global-beef-production-to-boost-prices-in-late-2024
[4] https://ahdb.org.uk/beef-market-outlook
[5] https://www.agproud.com/articles/59727-2025-beef-production-to-drop-6-from-2024