Rabobank report suggests global beef prices are likely to strengthen
The bank says market indicators from the world’s three largest beef exports is pushing prices higher. It cites firm demand as well as further tightening supply due to drought-induced herd retention in the US and some adverse weather conditions in Brazil and Australia.
“Prospects for the global beef industry remains positive in Q2, with further possible upside due to continuing pressured beef supply and scarce supply of competing proteins which will continue to impact competitive positions” said Rabobank analyst, Albert Vernooij.
