World Board Outlook Chair, Mark Jekanowski, said the beef export forecast for 2020 has not changed, despite some encouraging numbers recently.
However, he said the forecast for 2021 has been pulled back a bit because of an weakness in observed global demand.
“Many countries, China among them, [have reported a drop in demand] but others as well. So that’s a 200 million pound change from our forecast last month and then a 300 million pound reduction for our 2021 forecast relative to last month.”
Meanwhile, when it comes with trade prospects for broilers.
“We increased a bit for 2020 again based on some observed trends and data. And then increased even further for next year for 2021, and that’s consistent with our expectations for lower prices going forward.”
Jekanowski added that imports of beef, mostly processing grade from Australia and Argentina, are expected to increase.
If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail [email protected]