World beef production is expected to reach more than 61 million tonnes this year.
According to the U.S. Meat Export Federation, global beef production in 2017 is expected to increase by 820,000 tons from last year to more than 61 million tons.
Among the countries expected to increase production are the United States (3.7 percent), Argentina (3.8 percent), Brazil (2.0 percent), India (2.0 percent), Canada (2.0 percent) and Mexico South Korea (-2.0 percent), South Korea (5.0 percent), Russia (2.0 percent), Paraguay (3 percent), New Zealand (3.0 percent), Korea (2.0 percent) (1 percent).
Australia’s beef production is expected to decline 2 percent to 2.03 million tonnes this year from 2,760,000 tonnes last year. The US is expected to increase to 11.77 million tonnes this year from 11.35 million tonnes last year, up 3.7 percent from last year.
Meanwhile, exports of beef in the EU, Canada, Paraguay, Brazil, Uruguay, Mexico, the United States and Argentina increased last year, while Australia and New Zealand were estimated to have decreased.
In particular, Australia’s beef exports last year fell 74 percent year-on-year to 68 percent of its total production, as both cold and frozen meat decreased. China’s imports of beef imports rose 45% year-on-year to 415,000 tons, mainly in the countries with popularization rights.
Therefore, the U.S. Meat Export Federation expects US beef exports to increase significantly this year if China officially allows US beef imports this year.