Brazil – beef prices soar on back of strong demand
Brazilian beef prices have risen by the equivalent of 33c/kg since the start of the year. This week, Brazil’s beef price is equal to €3.03/kg in Irish terms, with record exports to world markets such as China driving demand for cattle.
Australia – sheepmeat exports fall in 2020
Australian sheepmeat exports were down 13% in 2020 to 403,565t. Export volumes to all major markets were reduced, with the exception of the EU, which saw sheepmeat imports from Australia increase by 15% last year to just under 15,000t.
UK – pork production to increase in 2021
AHDB, the levy board in England and Wales, has forecast UK pigmeat production to grow by 4% this year to exceed 1m tonnes. However, the AHDB said it is concerned about demand from export markets, with less demand in China and Brexit-related disruption to exports to EU markets.
US – corn prices rise on Chinese demand
US maize (corn) prices got a shot in the arm last week after China stepped into the market in a major way with an order for 1.7m tonnes of US maize. US maize exports are currently running at 30% ahead of export volumes in previous years and stocks are tightening.