Livestock and Poultry Report on World Markets and Trade –
On Tuesday, the United States Department of Agriculture (USDA) released its quarterly report on Livestock and Poultry in Global Markets and Trade. This report includes trade, production, consumption and inventory data in the United States and globally, as well as an analysis of developments affecting global livestock and poultry trade. It covers beef and veal, cattle, pork, pork and chicken.
This new USDA report shows that China continues to lead the red meat trade. Pork production in China is expected to contract in 2022 as the pork sector adjusts to rapidly changing market conditions. Pork prices in this country have fallen dramatically since the start of 2021 and have remained low. All of this will likely lead to a drop in pork production in China and an increase in imports in 2022, especially in the second half of the year.
Regarding beef imports, China and its share in world trade are expected to increase for the eighth consecutive year in 2022. Beef gained ground due to China’s difficulty in sourcing pork over the course of the year. in recent years. Changing consumer preferences and improving the foodservice environment will place beef more prominently in the Chinese diet than in the past, while moderate growth in domestic production will support imports.
China’s chicken meat imports are also increasing. A 3 percent growth forecast is expected next year due to increased consumer demand and the expectation that imported products will be competitively priced. But China’s share of global chicken meat trade remains small compared to that of other meats.