Brazilian beef exports for November stood at just under 142,000t, which was 9% higher than the same month last year. This brings Brazilian beef exports for the first 11 months of 2017 to 1.35m tonnes.

US beef exports for the month of October increased 5% year on year to reach 111,300t. This is the second-largest monthly export volume for US beef in 2017 behind August. US beef exports for the first 10 months of 2017 now stand at more than 1m tonnes, which is 9% higher year on year.

UK milk production in October stood at just under 1.2bn litres, which is 4% higher than the same month last year. The strong recovery in October milk collections brings cumulative milk production in the UK for the first 10 months of 2017 to 11.9bn litres, which is 1% ahead of the same period in 2016.

Australian crop production this season has been severely affected by drought conditions across the country. Wheat production is forecast to fall 42% year on year to 20m tonnes, while barley production is set to fall 40% year on year to 8m tonnes.