Long-term projections for global meat production

There were no significant changes in the first update of the crop estimates for the new 2023/24 season, which is why the influence of this update on prices and the general market was virtually negligible.

Germans consumed about 2.8 kg less pork.

Significant cuts were made to world corn export estimates compared to the February report, while global soybean production was again projected downward, largely due to losses and low yields in the Argentine crop.

From 2023 onwards, pork production is expected to exceed beef production, widening the gap between the two proteins year after year until 2032.

Once again, the production estimate for Argentina's crops was reduced as a result of the adverse weather conditions that have accompanied the development of the crops in this new season.

Four entities will work to improve African swine fever prevention and preparedness efforts.

In its latest "Livestock and Poultry: World Markets and Trade" report from January 12, the USDA revised the closing figures for 2022 and its estimates for 2023, forecasting an increase in world pork production for this year thanks to an increase in China's domestic supply.

Production and export estimates for Brazil were revised upward, while import volumes for Mexico were revised downward.

Corn production is again forecast lower due to further declines in the U.S., Argentine, and Brazilian crops. For soybeans, a 4 million ton reduction in the Argentine crop is expected due to drought conditions affecting crop yields.