USDA: Global meat market stagnating in 2024 - beef stable, less pork, more chicken The US Department of Agriculture (USDA) published a preview of the global meat market in its Jan. 24 quarterly issue. In total, all major production areas are not expected to change significantly in 2024 compared to the previous year. In the case of the pork market, the USDA comes to a -0.9% lower production result compared to the previous year. In contrast, chicken meat production is expected to increase by +0.85%. An insignificant increase of +0.2% is expected for the beef sector. The statistically recorded global meat consumption of beef, pork and chicken is estimated at around 272 million tonnes. Around 30% of this is consumed in China, with a focus on pork. The Chinese PKV is 59 kg. The EU-27 follows in second place with a share of 12.5% or 76 kg per capita, followed by the USA with around 9% or 73 kg. The recorded global trade in meat amounts to around 11.5% of production and, after the weak previous year, is expected to return to the level of 2022 in 2023.China accounts for a significant share of this with 26% imports, followed by Japan with 10.5% and Korea with 5%. On the export side, in order, there are the USA, EU-27, Canada and Brazil, each with different trade shares for the individual types of meat. Global beef prices are currently moving again within an increased range, ranging from €220/100kg in Australia, €275/100kg in Brazil and €570 and €580/100kg in the UK and USA respectively. The EU average is recorded at €490/100 kg. Global pig prices currently range from €0.90/kg in North America to €1.6/kg in Brazil, an average of €2/kg in the EU to €2.35/kg in China. The current chicken prices in the USA and the EU average €2.6/kg, while in Brazil the prices are just under €1.40/kg.
