Argentina will close the year with the largest volume of beef exported in a century globally

      The USDA has revised its global beef export estimates for 2024 upwards for the fourth time, projecting a 9% increase to 12.9 million tons, the highest in two decades. 

     Brazil and Australia are the primary contributors to this increase, accounting for 678 thousand tons and 305 thousand tons respectively. The global trade increase of 932 thousand tons is largely driven by demand from China and the US. 

     The export volume is expected to stabilize in 2025 at 12.9 million tons. Meanwhile, international beef prices have seen a stabilization with the weighted average FOB price remaining stable at US$ 5,800 per ton. 

     In September, Brazil exported a record 251 thousand tons of beef, while Australia achieved its highest quarterly export volume of 365 thousand tons. Argentina's beef exports are also at a record high, reaching 940 thousand tons for 2024.

Source:  Tridge Trend