A strong global beef market is expected to continue, driven mainly by demand in China and tight supply in the U.S., Australia and Brazil, according to a report published by Rabobank. However, 2014 imports in China are not expected to reach the levels experienced in 2013, according to Feedstuffs.
The first quarter of 2014 brought record prices for fed cattle and beef cutout values in the U.S. Fed cattle supplies have reached their tightest levels, the report says, and prices have reached seasonal peaks.
The drought-induced herd retention in the U.S., along with adverse weather conditions in Brazil and Australia, has impacted export markets. The impact of Porcine Epidemic Diarrhea virus (PEDv) may strengthen beef demand during the spring grilling season and into summer.